Prime Minister Rishi Sunak made a bold announcement today at a Polish military base, surrounded by tanks and military personnel. In a bid to increase defense spending, Sunak revealed plans to raise it to 2.5% of national income by 2030, amounting to an extra £75 billion in spending over the next decade.
This announcement comes at a time of heightened global tensions, with conflicts in the Middle East and war in Europe. Sunak, accompanied by Chancellor Jeremy Hunt and Defense Secretary Grant Shapps, emphasized the need for a strong defense in the face of international threats.
The Conservative government claims that this increase in defense spending is fully funded without any additional borrowing or debt. They plan to offset the costs by cutting jobs in the civil service to pre-pandemic levels, reducing the headcount by around 70,000.
Opposition leader Sir Keir Starmer of the Labour party, who has been trying to reinvent his party’s image, has also pledged to increase defense spending to 2.5% of national income when resources allow. However, the Labour party’s promise is not as concrete as the Conservative plan.
The political arms race on defense between the two major parties in Westminster reflects the growing concerns about global security. With Nato Secretary General Jens Stoltenberg warning about the costs of allowing Putin to win in Ukraine, the need for increased defense spending is becoming more apparent in the face of a dangerous world.