UK to set “clear path” to higher defence spending by 2035

UK Chancellor of the Exchequer John Healey told The Times that the government will set out a “clear path” for increasing defence spending as part of its upcoming spending review.

He stressed that London intends to meet its NATO commitment by 2035, while also setting a specific date for reaching the 3% level.

“For the first time at the spending review, we will set out a clear path about how we will meet that NATO commitment in 2035, of 3.5% of GDP,” Healey emphasised.

According to the UK Office for Budget Responsibility, reaching defence spending of 3% of GDP by 2030 would require an additional £17.3 billion ($23.4 billion). The government also needs to close a £4.7 billion funding gap to meet its existing defence investment plan.

Healey said defence would be “central” to the upcoming spending review.

By Jeyhun Aghazada