Defence: Finance

Treasury written question – answered am ar 24 Mai 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Baroness Anderson of Stoke-on-Trent Baroness Anderson of Stoke-on-Trent Opposition Whip (Lords), Shadow Spokesperson (Defence)

To ask His Majesty's Government whether their commitment to spend 2.5 per cent of gross domestic product on defence by 2030 has been incorporated into the Treasury’s baseline budgets.

Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton The Parliamentary Secretary, HM Treasury

The Prime Minister recently set out our pledge: to increase defence spending to 2.5% of GDP by 2030. That increase starts immediately, rising each year, and will see defence spending rise to £87 billion a year by 2030/31. This is the biggest strengthening of our defence since the Cold War.

The commitment will be fully funded, with no increases in borrowing or debt.

Does this answer the above question?

Yes2 people think so

No1 person thinks not

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