In the Autumn Budget yesterday the Chancellor Philip Hammond announced a further, and very necessary, £1bn to the UK’s Defence Budget, in a move that will see the UK continue to be a leader in anti-submarine warfare and cyber security.
The extra £1bn for defence comes on top of an £800m increase in the summer.
Defence Secretary Gavin Williamson said the extra funds represented a “substantial financial boost”.
“Not only will this funding ensure we continue to have world-leading armed forces but will also allow defence to modernise our critical assets, such as our offensive cyber capabilities, anti-submarine warfare and our nuclear deterrent,” he said.
Mr Hammond said in his speech the extra defence funding was prompted by “stark reminders in the past year of the scale, scope and complexity of the threats we face”.
The UK should not forget that we have always been a world leader in the strategic space. The technology, innovation and expertise available in the UK mean that have always been, and will continue to be, leaders in deterring behaviour that goes against the rules based global order.
The UK is second only to France in terms of its military expenditure in the EU and the sixth biggest spender globally, consistently reaching the NATO goal of 2% of GDP. The increase in spend will allow us to remain as leaders in the global strategic space and only cement our place as an integral NATO contributor.