Britain wants to increase defense spending sooner rather than later

The British government is considering accelerating its goal of increasing defense spending to three percent of GDP. According to the BBC, Prime Minister Keir Starmer's aides are exploring the possibility of achieving this goal by 2029, earlier than originally planned.

In February last year, Britain announced that it would increase defense spending to 2.5 percent of GDP by 2027 and set a target of three percent in the next parliamentary term after the 2029 elections. The government says no final decision has been made on the change, but admits that current plans may not cover rising costs.

Starmer said at the Munich Security Conference that Europe will have to "spend more and faster," especially in relation to support for Ukraine and threats from Russia.

According to NATO, Britain spent 2.3 percent of its GDP on defense in 2024, which is above the alliance's two percent target, but it faces pressure from the US to increase this further.

The budget watchdog estimated that an increase to 3 percent of GDP would require an additional €19.9 billion per year between 2029 and 2030. The Treasury is cautious about new commitments for now.

(reuters, max)