Defence chiefs have boosted military spending by £15bn to prepare to defend against Russian attack if the Kremlin goes rogue in the next few years.
A massive increase in spending on deadly drones is among the up-arming campaign – an increase of £1.5bn since ex- Defence Secretary John Healey quit in a funding row.
Additional funding has been found to accelerate the UK’s drone capability , boost future fighter jets and strengthen the UK’s nuclear deterrent.
The long-awaited Defence Investment Plan is aimed at making 60,000 new jobs by the end of the decade and boost our troops; weapons with a four year £300bn investment.
Since 14 years of disastrous Tory-led defence cuts the UK’s defence budget will soar from £54 billion a year under the previous government to almost £80 billion by 2029.
That represents a UK defence spending increase to 2.7 per cent of GDP.
And the government says the UK’s defence spend will be higher than at any time during the last 30 years by the end of this decade.
It is hoped that will meet a deadline to defend the UK and NATO against Russian attack by 2030.
The DIP includes more than £8 billion in the Global Combat Air Programme (GCAP) over the next four years.
This refers to a next-generation stealth fighter jet for the Royal Air Force, alongside our close allies Japan and Italy.
More than £63 billion will be spent over the next four years to strengthen the UK’s nuclear deterrent and to fund the new nuke Dreadnought submarines.
That includes new warheads. And the UK will buy 12 new F35A fighter bombers.
The Royal Navy will get a £26 billion boost of by upgrading naval bases – including upgrades at Faslane, Portsmouth and Devonport.
Over £5 billion will be spent on a drone transformation for our Armed Forces.
Prime Minister Keir Starmer said: “This record investment puts the security of the British public first, transforming our Armed Forces and giving them the funding and equipment they need to fight and defend our nation.
“The world is a more dangerous and volatile place, so it is only right we are boosting the number of troops on the ground, rebuilding ammunition stockpiles and investing in cutting edge technology to ensure we outpace our adversaries for generations to come.
“Every pound in this plan will work twice, delivering economic growth and opportunity for the British people, and supporting more than half a million jobs by the end of the decade, as well as reinforcing our national security.”
Defence Secretary Dan Jarvis MBE MP said: “I know first-hand the importance of our Armed Forces having the kit and technology they need to do the difficult job we ask of them.
“I have secured more money and made different choices for defence. We will invest £298 billion over the next four years. That includes an additional £15 billion, of which most is extra day-to-day spending for training and improving availability of ships and aircraft to increase our war-fighting readiness.
“By choosing to embrace new technology, I am equipping our troops with the autonomous systems which will give them the edge on the battlefield.
“This extra money and these choices send a clear signal to our allies and our adversaries alike: Britain is stepping up on security.
Chief of the Defence Staff Air Chief Marshal Sir Rich Knighton said: “This plan sets out how and where we will invest in defence over the coming years to deliver the Strategic Defence Review and build the integrated force the nation needs.
“It also reflects both the importance of national defence and the vital contribution our Armed Forces make every day to keeping the country safe.”
Reinforcing today’s additional investment, the Prime Minister also announced this morning a new £50 billion defence export facility established by UK Export Finance to support British defence firms to win contracts across the globe. This will support British defence companies of all sizes and strengthen the UK’s competitiveness in a rapidly growing market.
