Britain to increase defense budget to $108bn by end of decade

Prime Minister Liz Truss’ government intends to increase the defense budget to £100bn ($108bn) by the end of 2030, British Defense Secretary Ben Wallace told the Telegraph.

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“Without change, we were approaching below two per cent (defence spending of GDP). But according to the current forecast, we are talking about a defense budget of £100 billion by 2029-2030. It currently stands at £48 billion. .. In eight years, that’s a huge amount,” Wallace said.

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He added that the ministry plans to allocate additional funds to intelligence, surveillance and information gathering.

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The secretary of defense noted that Truss intends to fulfill her campaign promise to increase defense spending to three percent of GDP.

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“From day one, she said, ‘Don’t be under any illusions, I’m serious,'” Wallace said.

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Former Foreign Minister Liz Truss took over the government on September 6 after Queen Elizabeth II asked Truss to become her prime minister and form a new cabinet. Wallace retained his post in the new government.