UK Rethinks Defence Spending: A Swift March to 3% of GDP

The UK government is contemplating accelerating its defence spending target of 3% of GDP by the end of the current parliament, spurred by increased defence costs. Prime Minister Keir Starmer stressed the urgency of the move at the Munich Security Conference, emphasizing Europe's unified support for Ukraine.

The British government is actively considering fast-tracking its goal to allocate 3% of its economic output towards defence spending, bringing this ambition forward to the current parliament's end. This development, as reported by the BBC, marks a shift from the previous target set for the next parliament.

Previously, Britain committed to elevating its annual defence budget to 2.5% of GDP by 2027, with plans to reach 3% subsequently. However, rising defence costs and higher debt burdens have prompted reconsideration. Prime Minister Keir Starmer, addressing the Munich Security Conference, highlighted the necessity for faster spending, citing Europe's consolidated support for Ukraine.

NATO's latest estimates reflect that Britain's defence spending was at 2.3% of GDP in 2024. While the government's focus on defence funding grows, an official comprehensive investment plan has yet to be published, causing frustration within the defence sector. Increasing the budget to 3% would require an additional 17.3 billion pounds by 2029-30, as noted by the Office for Budget Responsibility.

(With inputs from agencies.)