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.
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