UK to increase its military budget by $6bn in next two years
The British government will increase defence spending by £5bn ($6bn) over two years – as stated by British Prime Minister Rishi Sunak’s Office, TASS reports
It is informed that £3bn ($3.6bn) will go to the development of nuclear deterrence forces, while the remaining money will be used to replenish stocks after the transfer of ammunition and weapons to Kiev.
The statement added that, in the long term, London intends to increase its military spending to 2.5 percent of GDP (against the present slightly more than 2 percent). After 2025, the defence budget is planned to be revised towards a further increase, if possible.
According to The Telegraph, the United Kingdom's defence spending in 2021-2022 amounted to £71.4bn. Earlier, British Defence Minister Ben Wallace demanded that the Finance Ministry raise the budget by at least £8bn.
