politics
Starmer Announces £15bn Defence Spending Plan Leaving £4.7bn Gap
The outgoing prime minister committed £15bn over four years to boost UK defences. Treasury figures show only £10.3bn in identified savings, requiring additional funding in the autumn Budget.
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Outgoing Prime Minister Sir Keir Starmer announced £15bn of defence spending over the next four years, The BBC reported. The Treasury identified £10.3bn in savings to support the plan, leaving a £4.7bn shortfall that the next government must address. Defence minister Luke Pollard told the BBC that just over £4bn will be set out in the autumn Budget.
He said the incoming chancellor, whoever that may be, will have to find the resources. Andy Burnham, widely expected to become prime minister on 20 July, was informed of the gap on Tuesday. Under the defence investment plan, overall defence spending will rise from 2.6% of national income in 2027 to 2.7%, or nearly £80bn, by 2030.
Starmer stated the UK is on track to spend 3% of GDP on defence in the next five-year Parliament and to meet Nato's 3.5% target by 2035. The funding will come from cutting the long-term investment budgets of other government departments by 1%. The Department for Transport is contributing a further £700m in savings from roads projects, with the A38 Derby Junctions and A46 Newark Bypass schemes under consideration for cancellation.
The Department for Energy Security and Net Zero is finding an additional £2bn from its budget. Rachel Reeves set aside headroom for emergencies in her Budget last November. More detailed plans for the defence investment plan are expected in the autumn.
