The Government has announced the largest investment in our Nation’s defence since the end of the Cold War. More than £24billion to safeguard the security of our nation, along with the creation of around 10,000 jobs.
This is the largest investment in the nation’s defence in the last 30 years, providing our defence budget with an extra £24.1 billion over the next four years. The commitment will allow the Government to invest in cutting-edge technology, positioning the UK as a global leader in domains such as cyber and space and cement the UK’s position as the largest defence spender in Europe and the second largest in NATO.
This funding will help create 10,000 more jobs a year, through the investment in our world leading defence industry and revitalising British shipbuilding.
We must all remember the brave men and women who have fought to protect our rights and freedoms, and we must continue to respect, thank and support everyone who steps forward and does their duty today and every day.
That’s why I am delighted that we are providing the Armed Forces with the largest financial boost since the Cold War, while both meeting and exceeding our Manifesto commitment to increase defence spending.
The Prime Minister, Boris Johnson, said:
“I have taken this decision in the teeth of the pandemic because the defence of the realm must come first.
“The international situation is more perilous and more intensely competitive than at any time since the Cold War and Britain must be true to our history and stand alongside our allies. To achieve this we need to upgrade our capabilities across the board.
“This is our chance to end the era of retreat, transform our Armed Forces, bolster our global influence, unite and level up our country, pioneer new technology and defend our people and way of life.”