May 17, 2024

Valley Post

Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

Britain cuts thousands of government employees to boost defense spending to 2.5% of GDP

Britain cuts thousands of government employees to boost defense spending to 2.5% of GDP

The significant increase over the next six years indicates what Britain will do with its defense spending. To reach them at an equal height 2.5% of GDP annuallyThat is, much higher than NATO's target of 2%.

Polish Prime Minister Rishi Sunak made the announcement today from Poland, where he is visiting, noting that “an axis of authoritarian states, such as Russia, Iran and China, is emerging and increasingly working together to undermine democracies and redesign the global order.” .

Britain then sets the target of moving from £64.6 billion this year (2.3% of GDP), to £67.5 billion in 2025, to £71 billion in 2026, then with a new, more rapid increase to reach 87.1 billion. Annually in 2030. In other words, about an additional 75 billion in total, over six years!

It is now proposed that these costs be financed through budget rationalization, primarily through reducing the number of civil service employees until 2029. Their number will be about 70,000 fewer than this year. This alone will provide about two-thirds of the increase, with the remainder being a transfer of funds allocated for research and development.

Britain expected a gradual increase in defense spending until 2030 as a proportion of GDP

Of course, such costs assume that Britain It will be on a growth path In general, it will produce wealth, which must be proven in practice, as economic expectations are not very optimistic…

Even Sunak is seeing a sharp decline in his popularity, while the country will hold elections in early 2025 (or even earlier), so all of the above must be reconsidered if there is a change in government. In addition, of course, are the expected social reactions, as a significant part of the population cannot cope with continuous price increases, housing shortages, falling real wages and incomes, the deterioration of the National Health Services, i.e. the National Health System and much more (reminiscent of the Greek case ).

This photo shows an RAF Typhoon from RAF Lossiemouth, on Exercise Red Flag.
RAF Typhoon aircraft from RAF Lossiemouth II (AC) Squadron are currently based at Nellis Air Force Base in Las Vegas, Nevada.

However, the increased spending is said to go, among other things, to strengthening air defence, hypersonic weapons, laser weapons, artillery ammunition volume, etc. A significant investment will be made in productive defense infrastructure, In increasing related research and development that will absorb 5% of the annual defense budget, as well as in continued support for Ukraine, for which Sunak today once again announced major reinforcements with thousands of missiles, armored vehicles and credits. .

He described Britain's increase in defense spending as… “A turning point for European security, a landmark for British defence, and a once-in-a-generation investment in British security and prosperity.”

British “huge package” for Ukraine includes 1,600 missiles, 400 vehicles and financial aid