UK to Spend Extra $1.2Bln on Defense in Current Fiscal Year - Finance Chief
UK's Chancellor of the Exchequer Philip Hammond on Monday pledged an equivalent of 1 billion pounds ($1.28 billion) in extra defense spending in the current fiscal year.
LONDON (Pakistan Point News / Sputnik - 29th October, 2018) UK's Chancellor of the Exchequer Philip Hammond on Monday pledged an equivalent of 1 billion Pounds ($1.28 billion) in extra defense spending in the current fiscal year.
Additional money would be used to ramp up protection from external threats and boost fight against cybercrime, he said in his 2018-2019 budget statement to parliament.
An extra $204 million would be spent on counterterrorism efforts, Hammond added.
The finance minister opened his Autumn Statement with a promise that the "era of austerity is finally coming to an end," eliciting cheers from the House of Commons.