By the end of the decade, the UK will spend 2.5% of its GDP on defense, according to a statement made by Boris Johnson today.
At a press conference that concluded the NATO summit in Madrid, the prime minister stressed that as the government “invests for the long term” and mitigates the threat from Russia, budgets will rocket well beyond the alliance’s 2% target in the future years.
The increase would amount to an additional £10 billion in revenue year, raising the question of whether taxes will need to increase even more to cover the obligation.
Although Mr. Johnson claimed that “having armed services that are magnificently equipped” was the first priority, he was nonetheless questioned about why the size of the army is being reduced.
The prime minister declared: “We need to make long-term investments in crucial capabilities, such future combat air, while also adjusting to a more perilous and competitive world.
We will spend 2.5% of GDP on defense by the end of the decade, according to the logical outcome of the investments and decisions we propose to make.
As the Madrid conference came to an end, Mr. Johnson praised NATO as “unified” and “in robust health.”
“The NATO alliance is manifestly in robust health and getting stronger, with new members and a new purpose,” the prime minister said at a press conference.
We realize how challenging our work is.
“If history is any indication,” the speaker says, “this great coalition will prevail once more.”