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The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies.
Defence spending to remain at 2% of national income. [19] Spending on overseas aid to be kept at 0.5% of national income, below the official 0.7% target. [19] Reduction in the main rate of National Insurance from 12% to 10% from 6 January 2024. [19] Reduction in Class 4 National Insurance for self employed from 9% to 8% from April 2024. [19]
The government stated its ambition was to raise defence spending from 2.2% to 2.5% of GDP "once fiscal and economic conditions allow". [44] On 23 April 2024, Prime Minister Sunak confirmed the UK would increase its defence spending to 2.5% of GDP by 2030. [45]
Gov.uk – PM announces ‘turning point’ in European security as UK set to increase defence spending to 2.5% by 2030 Gov.uk – Our committment (sic) to 2.5% of GDP in 2030 ( archived ) Gov.uk ...
The UK’s defence budget could face billions of pounds worth of cuts if Donald Trump imposes tariffs on the UK, a new forecast has warned.. Mr Trump, who was sworn in as president on Monday ...
All members of Nato are signed up to an agreement to spend the equivalent of 2% of their gross domestic product (GDP) on defence per year. In 2023, 11 Nato countries met this pledge, including the ...
England's NHS budget will increase by £3.3bn a year during 2023–24 and 2024–25, and spending on schools by £2.3bn over the same period [18] Defence spending to be maintained at 2% of national income [18] Overseas aid spending to remain at 0.5% until 2028, below the official 0.7% target [18]
Brings UK military spending to 2.25% of GDP by 2025, says chancellor. For premium support please call: 800-290-4726 more ways to reach us