Defence: Finance

Ministry of Defence written question – answered at on 13 February 2024.

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Photo of Lord Alton of Liverpool Lord Alton of Liverpool Crossbench

To ask His Majesty's Government when they expect to achieve their stated ambition to increase defence spending to 2.5 per cent of gross domestic product; and what investment they are making in new areas of defence technology.

Photo of The Earl of Minto The Earl of Minto The Minister of State, Ministry of Defence

The Government has set its aspiration for defence spending to reach 2.5% of GDP as soon as fiscal and economic circumstances allow.

Over the current Spending Review period we will be investing at least £6.6 billion in Research and Development, working closely with UK industry and academia to ensure we are developing the technologies and capabilities Defence needs now and in the future.

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