Politics · United Kingdom · 1 hr ago

UK sets goal to spend 3% of GDP on defence by 2030

UK sets goal to spend 3% of GDP on defence by 2030

UK Chancellor John Healey set a goal of spending 3% of GDP on defence by 2030 in the government’s Budget.

The target is a step toward NATO’s commitment for the UK to spend 3.5% of GDP by 2035.

Healey said the government would set out a path to that longer-term commitment at next year’s spending review, but did not explain how it would fund the 2030 goal.

The Office for Budget Responsibility estimates that reaching 3% by 2029-30 would require an extra £17.3 billion.

Healey said the government would look at public spending and consider financing with private companies and international partners.

The Budget also addresses a £4.7 billion gap in the Defence Investment Plan, with £3 billion to come from reprioritising government capital budgets and the rest from a Treasury reserve.

The funding plan for the 3% goal is still to be set out next year, and Conservative leader Kemi Badenoch criticised the lack of detail.

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What people are saying

John HealeyUK Chancellor of the Exchequer
At the spending review next year, I confirm that I will set out the details of how we will meet our Nato commitment to spend 3.5% of GDP on defense by 2035, with a target date for 3% in 2030.
via MercoPress
Mark RutteNATO Secretary General
I welcome this move to put [the U.K.] on a credible path towards meeting the commitment made by all NATO Allies in The Hague — to ensure we’re all investing what’s needed to remain ready [and] able to deter aggression and defend our freedom and security.
via Politico Europe
Kemi BadenochConservative Party leader
You can't have social security without national security... There are huge problems coming down the road but this Budget is simply trying to get through the day.
via Politico Europe
Kelly MaddisonMake UK Defence representative
industry needs to know that the commitment to defence is there long term to strengthen business confidence to invest.
via Politico Europe

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