UK’s Sunak Pledges to Boost Military Budget by $6Bln Over 2 Years

By Staff, Agencies

British Prime Minister Rishi Sunak announced the increase of 5 billion pounds [$6 billion] in the country's military budget over the next two years amid the growing challenges for the national security.

During his speech on the United States Midway museum ship in the Californian port on Sunday, Sunak said that the world had become more volatile, thus increasing the threats to the security of the UK, the media reported.

"And that’s why we’re investing £5 billion more in our world-beating armed forces over the next two years and increasing our defense spending to 2.5% of GDP so we can continue to be a world leader when it comes to defense and keeping our country safe," the premier was cited by a British newspaper as saying.

British defense spending in 2021-2022 amounted to 71.4 billion pounds, the media reported, adding that UK Secretary of State for Defense Ben Wallace had earlier urged to increase the country's defense budget by 8-11 billion pounds.

Additional 5 billion pounds will allow to raise the UK's defense spending to 2.25% of the GDP by 2025 from 2% of the GDP in 2020.

The developments come amid the UK's growing concern about the actions of Russia in Ukraine and the increasing military, financial and diplomatic activity of the Chinese Communist Party.