UK's Defence Spending Surge: An Ambitious Path to 2029

British Prime Minister Keir Starmer announced plans to increase the UK’s defence budget to nearly £80 billion annually by 2029. This boost aims to raise military expenditure to 3% of GDP, aligning with NATO commitments and marking defence as a top priority for upcoming financial reviews.

British Prime Minister Keir Starmer announced on Tuesday that defence spending is projected to rise to nearly £80 billion ($105.85 billion) annually by 2029.

This move aims to elevate military spending to 3% of GDP. The increase from 2.3% in 2024 to 2.7% marks a significant 27% real-terms boost in funding.

The strategic financial adjustment underscores a broader commitment to NATO, promising to align national spending to 4.2% under its 5% defence and national security guideline.