Rachel Reeves reveals extra £2.2bn for Ministry of Defence

Volume 0%
Press shift question mark to access a list of keyboard shortcuts
Keyboard Shortcuts
Play/PauseSPACE
Increase Volume
Decrease Volume
Seek Forward
Seek Backward
Captions On/Offc
Fullscreen/Exit Fullscreenf
Mute/Unmutem
Seek %0-9
00:00
01:37
01:37
 

The Chancellor Rachel Reeves has also confirmed that an extra £2.2 billion will be provided for the Ministry of Defence next year on the way to lifting defence spending to 2.5% of GDP. She told MPs: “This additional investment is not just about increasing our national security but increasing our economic security, too. “As defence spending rises, I want the whole country to feel the benefits. So I will set out the immediate steps that we are taking to boost Britain’s defence industry and to make the UK a defence industrial superpower. ”A minimum of 10% of the Ministry of Defence’s equipment budget will be spent on novel technologies including drones and AI enabled technology. “A protected budget of £400m will be created within the Ministry of Defence for UK Defence Innovation.”