Rachel Reeves said defence spending will rise to 2.6% of GDP by April 2027, calling it a “new era for defence and security”. The increase includes £11bn for defence and £600m for intelligence agencies. She said the move will create UK jobs and help make Britain a “defence industrial superpower”. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Category
🗞
NewsTranscript
00:00The signs of our age of insecurity are everywhere, so we are acting on the
00:05promise in our plan to change, building renewal on foundations of national
00:10security, border security and economic security. As the Prime Minister said
00:17earlier this month, a new era in the threats that we face demands a new era
00:22for defence and security. That's why we took the decision to prioritise our
00:28defence spending by reducing overseas development aid, so that defence spending
00:33will now rise to 2.6% of GDP by April 2027, including the contribution of our
00:40intelligence agencies. That uplift provides funding my right honourable
00:46friend the Defence Secretary, with £11 billion increased in defence spending and
00:52a £600 million uplift for our security and intelligence agencies. That
00:59investment will deliver not only security but also renewal. In Aldermaston and
01:05Lincoln, in Portsmouth and Filton, on the Clyde and in Resyth, investment in
01:10Scotland, jobs in Scotland, defence for the United Kingdom, opposed by the Scottish
01:16National Party delivered by this Labour Government.
01:22And as we invest in our armed forces, our military technology and our supply chains, that also
01:28brings huge opportunities. £4.5 billion of investment in munitions made in factories
01:35from Glasgow to Glasgow, Stevenage to Radway Green and over £6 billion to upgrade our nuclear
01:44submarine production, supporting thousands of jobs across Barrow, Derby and Sheffield.