04 Sep 2019

Chancellor announces an extra £2.2billion in defence funding

Chancellor Sajid Javid has announced this year’s Spending Round which includes an extra £2.2billion in defence funding.

Sajid Javid has revealed the new Spending Round for 2019 which includes extra defence funding and money for public services. The promised funding is being fast-tracked to allow the government to focus on negotiating Brexit.

There is a focus on reducing carbon emissions and preserving biodiversity, with £90million promised for the environment. An additional £2billion has been set aside to help the UK adjust after leaving the EU.

The extra funding for the armed forces exceeds the NATO target of a 0.5% increase in defence budgets. Spending Round set out departmental spending plans for 2020-2021 to deliver on the public’s priorities, including health, education, and security.

Departmental day-to-day spending is paid for through resource budgets which covers things like schools and hospitals’ running costs, and public sector pay.  At least £250 million will also be provided to the international climate and environment funds, including the Green Climate Fund – the leading fund dedicated to helping meet the landmark Paris Agreement on climate change.

If you would like to join our community and read more articles like this then please click here.

 

The post Chancellor announces an extra £2.2billion in defence funding appeared first on Defence Online.