Street Calls of the Week
Investing.com -- The United Kingdom (TADAWUL:4280) is set to significantly increase its defence spending to reach 2.5% of its GDP by 2027, as announced by Prime Minister Keir Starmer on Tuesday. This marks the country’s most substantial sustained growth in its defence budget since the cessation of the Cold War.
Starmer shared this development with parliament, stating that the government will initiate the largest sustained increase in defence spending since the final days of the Cold War. The commitment to spend 2.5% of GDP on defence will be expedited to achieve the target by 2027.
This move indicates a major shift in the UK’s defence policy, marking a notable increase in the country’s military funding. The Prime Minister did not provide further details on how the increase in spending will be allocated.
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