Defence: Finance

Treasury written question – answered at on 23 May 2024.

Alert me about debates like this

Photo of Drew Hendry Drew Hendry Shadow SNP Spokesperson (Economy)

To ask the Chancellor of the Exchequer, if he will use the £9.2 billion of reserves in resource funding to increase defence funding for 2024-25.

Photo of Drew Hendry Drew Hendry Shadow SNP Spokesperson (Economy)

To ask the Chancellor of the Exchequer, if he will use the £1.8 billion of reserves in capital funding to increase defence funding for 2024-25.

Photo of Laura Trott Laura Trott The Chief Secretary to the Treasury

The Prime Minister recently set out our pledge: to increase defence spending to 2.5% of GDP by 2030. That increase starts immediately, rising each year, and will see defence spending rise to £87 billion a year by 2030/31.

This is the biggest strengthening of our defence since the Cold War, ensuring we remain by far the largest defence power in Europe. It will protect our homeland security, cements our UK leadership in NATO and create jobs in the UK.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.