PM Sunak: UK to spend 2.5% of GDP on defence by 2030

PM Rishi Sunak said on Tuesday he would lift defence spending to 2.5% of GDP to reach 87 billion pounds ($108bn) a year by 2030, saying Britain could not be complacent when the world was at its most dangerous since the Cold War. Standing alongside Nato chief Jens Stoltenberg, Sunak said defence would get an additional 75 billion pounds over six years to ramp up the production of munitions, making Britain the second-largest defence spender in Nato.
He said one of the central lessons of the war in Ukraine was that countries needed deeper stockpiles of munitions, and that they needed to be able to replenish them more quickly. "We will put the UK's own defence industry on a war footing," he said.