British defence spending to reach 2.5% of GDP by end of decade, says PM

BRITAIN’S defence spending will reach 2.5 per cent of its gross domestic product (GDP) by the end of this decade, Prime Minister Boris Johnson said on Thursday (Jun 30), making a new commitment to bolster the defence budget after Russia’s invasion of Ukraine.

“Countries ... are recognising that they need to spend more. In our case, that means meeting and being prepared to exceed the target we set for ourselves a decade ago,” Johnson told a news conference at the Nato summit in Madrid.

“The logical conclusion of the investments on which we propose to embark ... is that we will reach 2.5 per cent of GDP on defence (spending) by the end of the decade.”

Britain’s defence spending was projected to reach 2.3 per cent of GDP this year due to increased military support for Ukraine, the government said on Tuesday.

Earlier this week, Defence Minister Ben Wallace said Britain must boost defence investment to tackle threats not only from Russia but from China and other countries. He said investment must increase from 2024 onwards when the current spending package is due for review. REUTERS