UK Increases Defense Budget By $3.8 Billion

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The UK announced a defense spending increase of £2.9 billion for 2024, raising the Ministry of Defence’s budget to exceed NATO commitments and provide ongoing support to Ukraine. Chancellor Rachel Reeves committed to meeting a 2.5% GDP defense target in the future, though no specific timeline was provided. UK defense expenditure in 2023-2024 was £54 billion, or roughly 2.33% of GDP, with substantial funds allocated for modernizing the armed forces. Challenges remain, with experts noting gaps in the British Army’s readiness and equipment shortfalls against NATO benchmarks. A Strategic Defence Review is set to publish in 2025 to address evolving threats and prioritize military resources amid a significant budget deficit.

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