MOSCOW (Pakistan Point News / Sputnik - 13th March, 2023) Rishi Sunak, the prime minister of the United Kingdom, announced the increase of 5 billion Pounds ($6 billion) in the country's defense budget over the next two years amid the growing challenges for the national security.
During his speech on the United States Midway museum ship in the Californian port on Sunday, Sunak said that the world had become more volatile, thus increasing the threats to the security of the UK, the media reported.
"And that's why we're investing �5 billion more in our world-beating armed forces over the next two years and increasing our defence spending to 2.5% of GDP so we can continue to be a world leader when it comes to defence and keeping our country safe," the prime minister said, as quoted by Belfast Telegraph newspaper.
British defense spending in 2021-2022 amounted to 71.4 billion pound, the media reported, adding that UK Secretary of State for Defense Ben Wallace had earlier urged to increase the country's defense budget by 8-11 billion pounds.
Additional 5 billion pounds will allow to raise the UK's defense spending to 2.25% of the GDP by 2025 from 2% of the GDP in 2020.
The developments come amid the UK's growing concern about the actions of Russia in Ukraine and the increasing military, financial and diplomatic activity of the Chinese Communist Party.
