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Lord Livermore (Lab)

Speaking in the House of Lords on 26 March 2026

Debate

Middle East: Economic Update

Contribution

I think I have set out very clearly the pace at which we are increasing and will increase defence spending. From 2027, we will increase defence spending to 2.6% of GDP, and we are increasing spending on defence by £5 billion in this year alone. Our ambition is to reach 3% in the next Parliament, when fiscal and economic conditions allow.

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