MPs call for UK defence budget to rise by £20 billion
The “Indispensable allies: US, NATO and UK Defence relations” report that has been drawn up by the Commons Defence Committee suggests that the UK defence budget should increase from 2% of GDP (£40 billion) to 3% (£60 billion).
The extra money for the Ministry of Defence (MOD) would help prepare the UK’s Armed Forces to counter any possible threats from overseas countries such as Russia.
Why increase defence spending?
The BBC has reported that MPs on the Commons Defence Committee have warned that the UK should “significantly increase defence spending if it is to maintain influence with Washington and NATO allies”, arguing that without this level of investment, the UK Armed Forces’ usefulness to the US would begin to decline.
The UK will have to significantly increase defence spending if it is to maintain influence with Washington and Nato allies, MPs have warned. A House of Commons Defence Committee report says the defence budget should rise from 2% of GDP to 3% (£60bn). Defence Secretary Gavin Williamson has reportedly demanded an extra £20bn for his department.
The report is adamant that “the government must not let this happen”.
At the start of 2018, UK Defence Secretary Gavin Williamson said that “hard work” was taking place to give the UK Armed Forces the “right resources” to protect the UK against Russian threats.
This was in response to claims by the then Chief of the General Staff General Sir Nick Carter that Britain may fail to respond to military and cyber threats from Russia fast enough without further investment from the UK Government. In January, General Sir Nick Carter said that:
“Rather like a chronic contagious disease, it will creep up on us, and our ability to act will be markedly constrained – and we’ll be the losers of this competition”.
What does this mean for defence suppliers?
If the UK defence budget does rise by £20 billion, this will give the MOD more money to spend on defence contracts for resources that will help to protect the country from foreign attacks.
The Commons Defence Committee has said that the investment could be spent on “increasing the readiness of the Armed Forces and to bolster Britain’s anti-submarine warfare to counter possible threats from Russia.”
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