Member

Knowing the gravity of the threats our country faces, this Government have overseen the biggest sustained increase in defence spending since the Cold War. We are already investing £15 billion more in defence than we were at the last spending review, and over the next four years we will be investing £298 billion. As a percentage of GDP, we have gone from 2.3% when Labour came to office two years ago to reaching 2.7% next year. We know that this Prime Minister and this Chancellor are both fully committed to funding our nation’s defence, including meeting our NATO commitment of 3.5% by 2035 and setting out an earlier 3% commitment at the next spending review. No one disputes that there is more to do to get there, but it is important to emphasise how much new money is already going into defence.