Britain’s defense spending will reach 2.5 percent of its gross domestic product (GDP) by the end of this decade, Prime Minister Boris Johnson said on Thursday, making a new commitment to bolster the defense budget after Russia’s invasion of Ukraine.
“Countries ... are recognizing that they need to spend more. In our case, that means meeting and being prepared to exceed the target we set for ourselves a decade ago,” Johnson told a news conference at the NATO summit in Madrid.
“The logical conclusion of the investments on which we propose to embark ... is that we will reach 2.5 percent of GDP on defense (spending) by the end of the decade.”
Britain’s defense spending was projected to reach 2.3 percent of GDP this year due to increased military support for Ukraine, the government said on Tuesday.
Earlier this week defense minister Ben Wallace said Britain must boost defense investment to tackle threats not only from Russia but from China and other countries.
He said investment must increase from 2024 onwards when the current spending package is due for review.