Rishi Sunak said he would put Britain’s defence industry “on a war footing” as he unveiled the biggest boost to military spending in a generation. Speaking during a visit to Poland, the Prime Minister unveiled £75 billion in new funding that will take the defence budget to 2.5 per cent of national wealth – or £87 billion a year – by the start of 2030.
It comes after the US Congress finally cleared a long-delayed $95 billion foreign aid package, largely for Ukraine. Sunak’s announcement was welcomed by Nato, and the Prime Minister – who will hold talks with Olaf Scholz, the German chancellor, on Wednesday – challenged other European countries to match Britain’s commitment. He said that if all Nato nations increased their spending to 2.5 per cent, the alliance’s collective budget would increase by more than £140 billion a year.