UK Government aims to spend 3% of GDP on defense by 2030, Chancellor says, but not everyone's convinced
The UK Government will aim to spend 3% of economic output on defense by 2030, and will plot a course for the target at next year's spending review, Chancellor of the Exchequer John Healey has said. Work is underway to reach the target – and Britain's promise to NATO to spend 3.5% of GDP on defense by 2035 – in a “fiscally sustainable way”, the Chancellor said, indicating that raising defense…
The UK government plans to allocate 3% of its economic output towards defense spending by 2030, according to Chancellor John Healey. The target is part of a pledge to NATO and aims to be achieved in a "fiscally sustainable" manner. This commitment surpasses a threshold that was expected to be missed under the previous government.
The Chancellor revealed plans to reduce capital budgets and seek innovative financing to meet the target, which would cost an additional £17.3 billion by 2029-30. The announcement has been welcomed by NATO Secretary-General Mark Rutte and Defense Secretary Wes Streeting, but criticized by Conservative leader Kemi Badenoch, who accused Healey of making troops unsafe and failing to deliver on his pledge.
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