Defence: Finance
The question
To ask the Chancellor of the Exchequer, what is the forecast profile of yearly (a) defence and (b) security spending to meet the respective 3.5% and 1.5% GDP NATO targets by 2035.
Answered by James Murray
NATO qualifying defence spending will increase to 2.6 per cent of GDP by April 2027. The Government’s ambition is to spend 3 per cent of GDP on defence next Parliament, when economic and fiscal conditions allow, and 5 per cent of GDP on national security spending by the Parliament after next.
In 2029, when NATO review capability requirements and this pledge, the UK and Allies will review the trajectory and the balance of spending, which is currently 3.5 per cent on core defence and 1.5 per cent on security and resilience-related spend.
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