Defence: Finance
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the implications for the UK's NATO commitments of current planned levels of defence expenditure.
Answered by Lucy Rigby
The Defence Investment Plan is backed by nearly £300bn of investment of the next four years, meaning the UK will now spend 2.7% of GDP on core NATO defence spending by 2027-28. Funding and plans for increasing defence spending to 3% of GDP in the next Parliament will be set out at the next spending review, where defence will be the number one priority
Alongside NATO allies, the UK has committed to reach 3.5% of GDP on defence spending by 2035, meeting its obligations to the Defence Investment Pledge. All allies will review trajectory and spend in 2029, when NATO next reviews its capability plans.
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