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Home » The UK hikes defence spending and cuts aid budget, says Ancestors | Business and Economy News
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The UK hikes defence spending and cuts aid budget, says Ancestors | Business and Economy News

userBy userFebruary 25, 2025No Comments3 Mins Read
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The announcement from British Prime Minister Kiel Starmer comes later this week before his trip to the US.

The UK will increase its annual defence spending to 2.5% of GDP by 2027, Prime Minister Kiel Starmer said it signaled the UK’s efforts to increase Europe’s security.

On the eve of his departure to meet President Donald Trump in Washington, the Eugenics on Tuesday told the British Congress that Europe will provide more support as the US talks with Russia over the war in Ukraine. He said it is bringing about an increase.

He said the increase would mean that the UK will spend £13.4 billion ($17 billion) on defense each year from 2027. The UK Department of Defense said it spent £53.9 billion ($68.3 billion) in the 2023-2024 fiscal year.

“We still have to go further. I have long argued that all European allies must step up and do more for our own defense.” Starmer added.

He said the increase in defence spending would be paid if the country was cut by 40% in international aid spending.

The international aid budget will be reduced from 0.5% of GDP to 0.3% in 2027, Starmer said.

The British Prime Minister said he was not pleased to announce the cuts in the country’s aid budget, but said there is a need for a move to provide support for Ukraine and Europe in a “new era.”

The UK last cut its subsidy budget in November 2020. This has dropped to 0.5% of GDP to the previous 0.5% amid the economic crisis caused by Covid Pandemic.

Priorities meet Trump later this week and are eager to see Britain try to lead other European countries to provide more support to the US-led military NATO alliance. .

He also hopes that Europe will reassure Trump that if peace negotiations with Russia are successful, Europe will provide support and security assurances to Kiev.

On Monday, French President Emmanuel Macron met Trump with the same goal in mind.

“I have discussed with all my colleagues and have been willing to Europe to become a stronger partner, and have done more to defend and security on the continent, … engaged in trade, economy, and trade, economy. , Macron told reporters in Washington.

With Trump’s push to launch negotiations between senior US diplomats and Russian diplomats without the participation of Ukrainian or European leaders, Europe has questioned Washington’s commitment to security.

Trump, who took office on January 20th, said on Monday that “many progress has been made” so far in his efforts to end Russia’s war in Ukraine.

At a press conference with Macron later that day on Monday, the US President said, “President Macron agreed that the costs and burdens of ensuring peace must be borne by the countries of Europe as well as the US. I’m happy to be doing that.” .

“Europe must play a central role in ensuring the long-term security of Ukraine that they want to do.”


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