UK boosts defence budget by 5.3%, but is this enough?
UK defence spending is set to reach £57.1 billion in the next financial year. (Photo: UK MoD/Crown Copyright)
The UK budget announced in Parliament on 30 October is the first by a Labour government in 14 years. While it sees a boost in defence spending, this comes in the face of fiscal challenges and the effects of inflation.
The UK government is to spend an additional £2.9 billion (US$3.8 billion) on defence in the next financial year as part of an effort to reach a target of spending 2.5% of GDP in the medium term.
The UK’s defence budget for the 2023/24 FY was £54.2 billion and this increase takes spending to £57.1 billion and 2.3% of GDP.
The budget is the first by a Labour government after 14 years of Conservative rule but does not include specific spending commitments as there is an ongoing Strategic Defence Review (SDR) which is expected to be completed in the first half of
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![What role could holographic and 3D capabilities play in the warfare of tomorrow]()
What role could holographic and 3D capabilities play in the warfare of tomorrow
Holographic and 3D technologies have been lauded by some for their ability to provide technical and operational advantages for military training and planning. But is the hype truly justified?
-
![Unfolding the Golden Dome for America: Seven things you should know about the programme]()
Unfolding the Golden Dome for America: Seven things you should know about the programme
Shephard talked to multiple experts about the most pressing concerns and considerations regarding the air defence system advocated by President Trump.
-
![Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans]()
Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans
While industry reception to the SDR has been positive, questions still remain from analyst and trade associations about what this could mean for future investment and the future UK Defence Industrial Strategy.
-
![UK Strategic Defence Review puts emphasis on autonomy, airpower and munitions]()
UK Strategic Defence Review puts emphasis on autonomy, airpower and munitions
The UK’s Strategic Defence Review (SDR) was launched as one of the first acts of the UK’s new Labour Government in June last year. The review has recommended a major big-picture reform of the country’s forces.
-
![Foreshadowing of UK defence review suggests it is light on programme details]()
Foreshadowing of UK defence review suggests it is light on programme details
The UK’s Strategic Defence Review (SDR) was designed to answer two questions: What is needed to fix UK defence and make it fit for the 2040s, and what do you get for a fixed financial profile? The SDR outlines that work still needs to be done on specifics.
