Starmer warns Burnham not to borrow to fund defence as he reveals £15bn plan
PM unveils long-awaited defence investment plan, which he says will mean hit to road, housing and energy schemes
TL;DR
- An additional £15bn will be allocated to defense over the next four years.
- Funding for the defense plan will come from cuts to road, energy, and housing projects.
- Keir Starmer has warned his successor not to borrow money to fund defense spending.
- Defense spending will rise marginally from 2.6% to 2.7% of GDP by 2030.
- Key investments include new nuclear submarines, warheads, and next-generation fighter aircraft.
- Funding will also be allocated to drone development and existing aircraft upgrades.
- Efficiency savings, including civil servant cuts and reduced spending on consultants, will contribute to the funding.
- Some military capabilities, such as Wildcat helicopters, will be retired early.
- The plan acknowledges rising global demands on defense, including Russian aggression and the need for Europe to step up.