UK to Increase Defense Budget to $108Bln by End of Decade - Defense Minister

International

25-09-2022, 09:42

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INA- SOURCES

The UK government intends to increase the country’s defense budget to 100 billion pounds ($108.5 billion) by the end of 2030, UK Defense Secretary Ben Wallace said on Sunday.

"Without the change, we were heading to below 2 per cent [of defense spending of GDP]. But on current forecast, that’s roughly a defence budget of £100 billion in 2029-30. We’re currently on £48 billion. So that’s the difference. In eight years, that’s a huge amount," Wallace told The Telegraph.

Wallace added that the ministry plans to allocate additional funds to intelligence, surveillance, and reconnaissance capability.

According to him, Truss intends to fulfill her campaign promise to increase defense spending to 3% of GDP.

SOURCE: sputnik news