UK boosts defense budget to 2.5% GDP, cuts foreign aid
British Prime Minister Keir Starmer announced on Tuesday that the defense budget will increase to 2.5% of GDP by 2027. In his speech in the House of Commons, he described this as the largest continuous increase in defense spending since the end of the Cold War.
The Prime Minister emphasized that this plan represents an increase in annual defense spending by 13.4 billion pounds starting in 2027. He stated that in the subsequent years, the defense budget will continue to grow to reach 3% of GDP in the next parliamentary term.
UK Prime Minister: More on military, less on foreign aid
He added that increasing military spending will require reducing the foreign aid budget, which will decrease from 0.5% to 0.3% of GDP in 2027. He emphasized that ensuring the defense and security of Britons remains a top priority for the government in today's world.
The media highlights that Starmer's unexpected announcement came shortly before his planned visit to the White House and a meeting with the President, who is urging NATO allies to spend more on defense.
