British Prime Minister Keir Starmer announced that Britain will increase its defence spending to 2.5 per cent of Gross Domestic Product (GDP) by 2027. He announced while speaking at the House of Commons, that is the lower house of the parliament, yesterday.
Starmer said that this increase will amount to an additional 13.4 billion pounds in annual defence spending from 2027.
Starmer also said that Britain’s defence spending will rise to 3 per cent of GDP in the next parliament, subject to economic and fiscal conditions. Britain’s current defence spending stands at about 2.3 per cent of GDP.
