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UK Chancellor Sunak Announces $6 Billion Military Budget Increase

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Editorial Teamhttps://www.xtrempoint.com
Where News Meets Insights, We Keep you Ahead!
Moscow, March 13 – British Prime Minister Rishi Sunak has announced an increase in defense spending by 5 billion pounds (about 6 billion US dollars) in the next two years, the British newspaper The Telegraph writes.
The publication notes that UK defense spending in 2021-2022 amounted to £71.4 billion. It is noteworthy that Defense Minister Ben Wallace had previously called on the treasury to increase the budget by between 8 and 11 billion pounds.
According to the publication, an additional 5 billion pounds will increase defense spending to 2.25% of GDP by 2025 (in 2020 this figure was 2%).

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