UK PM Starmer cuts infrastructure investment to fund £15bn defence spending increase
By
Joshua Nevett, Richard Wheeler
Summary
Prime Minister Sir Keir Starmer has announced a £15bn increase in military spending, raising the UK's defence budget to £80bn annually by 2029, funded by cutting investment in road and energy projects. The plan outlines long-delayed defence investment for equipping UK armed forces. However, the Treasury confirmed only £10.3bn in savings have been identified so far, leaving a funding gap. The plan is expected to be carried forward by Starmer's successor, widely anticipated to be Andy Burnham, who has not yet commented.
Source
bskyUK PM Starmer cuts infrastructure investment to fund £15bn defence spending increasebbc.co.ukKey quotes
· 3 pulledPrime Minister Sir Keir Starmer has said a £15bn increase in military spending will be funded by cutting investment budgets in other areas
Sir Keir said some road and energy projects would not 'go ahead as planned' to help raise defence funding to £80bn a year by 2029
The Treasury later confirmed only £10.3bn in savings had currently been identified
You might also wanna read
UK defence secretary secures £1.5bn for drone programme after predecessor resigned over funding gap
The UK's new defence secretary, Dan Jarvis, has secured an extra £1.5bn for a long-delayed defence investment plan, with most funds allocate
theguardian.com·1d ago
UK housing secretary Steve Reed proposes state-owned developer to boost housebuilding
The UK housing secretary Steve Reed is developing plans for a state-owned housing developer that could borrow at lower rates than private de
theguardian.com·2d ago
UK Defence Investment Plan sparks Cabinet crisis as ministers resign over inadequate military funding
The article analyzes the UK's upcoming Defence Investment Plan (DIP), which has already caused a political crisis within the Starmer Cabinet
is.gd·4d ago
Canada's submarine purchase, Chinese EV imports, and bank stock rally: Business Brief
This business briefing covers several Canadian news items: potential increased low-tariff Chinese EV imports into Canada, Unifor setting a J
theglobeandmail.com·7d ago
Britain's fighter-jet project with Italy and Japan faces same risks as rival European programme
Britain's defence spending plans are delayed, with a rumoured announcement of £15bn more for defence expected on June 11th. Meanwhile, a joi
econ.st·21d ago
Canada's Defence Minister McGuinty to lead trade mission pitching military tech to Japan
Canada's Defence Minister David McGuinty is leading a four-day trade mission to Japan from June 23-26, accompanied by nearly 40 Canadian com
theglobeandmail.com·22d ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.