Rishi Sunak vows an extension to defence spending by £5bn
Rishi Sunak has promised to raise defence spending by around £5bn over the next two years to counter arising threats from hostile states.
A new UK foreign and security plan published Monday will confirm the budget boost.
Rishi Sunak boosts funding of defence system:
It comes ahead of discussions between the prime minister and his US and Australian partners in California. The trio are ready to agree on details of a UK-US agreement to give Australia nuclear-powered subs.
The deal, known as the Aukus agreement, was signed in 2021 as part of a joint action to oppose Chinese military power in the Indo-Pacific region.
News has suggested Australia could make a modified version of the British Astute-class sub while taking delivery of up to five US Virginia-class subs during the production phase.
Downing Street said £3bn from the additional spending would support the deal, boost industrial infrastructure, and service UK submarines.
The remaining £1.9bn will be utilised to replace weapons sent to Ukraine and enhance the UK’s munitions infrastructure.
Of the new funds, £1.98bn will be spent this year and £2.97bn next year, with security spending then checked again after 2025.
Spending after this date would be set against a target to raise defence spending to 2.5% of national revenue in the “longer-term”, No 10 said, without fixing a timeframe.
Mr Sunak’s short-lived precursor Liz Truss had dedicated to spending 3% of GDP on defence by 2030 – but the prime minister has stepped back from that commitment.
‘Stand our ground’
The latest version of the so-called Integrated Review will be issued on Monday, replacing the first version of the security plan document revealed under Boris Johnson in 2021.
Ms Truss called the update in September last year to take account of Russia’s attack on Ukraine.
Downing Street said the new system would account for an increased security threat posed by Moscow and “increasingly concerning” military, economical and prudent activity by China.
It is hoped to confirm the extra budget for Manda.
