Dubai Telegraph - UK PM pledges to spend 2.5 percent of GDP on defence by 2027

EUR -
AED 3.859296
AFN 76.703623
ALL 99.136979
AMD 413.51672
ANG 1.892182
AOA 963.524218
ARS 1114.488578
AUD 1.657327
AWG 1.891323
AZN 1.785445
BAM 1.957625
BBD 2.119897
BDT 127.560154
BGN 1.957817
BHD 0.396027
BIF 3109.528981
BMD 1.050735
BND 1.405524
BOB 7.254834
BRL 6.052336
BSD 1.049889
BTN 91.506193
BWP 14.461278
BYN 3.435936
BYR 20594.400635
BZD 2.108987
CAD 1.500964
CDF 3017.710126
CHF 0.937569
CLF 0.02583
CLP 991.115605
CNY 7.615833
CNH 7.621783
COP 4346.889563
CRC 530.79998
CUC 1.050735
CUP 27.84447
CVE 111.114983
CZK 24.924269
DJF 186.736737
DKK 7.458588
DOP 65.569259
DZD 141.288084
EGP 53.141882
ERN 15.761021
ETB 133.206903
FJD 2.415008
FKP 0.831335
GBP 0.829245
GEL 2.957819
GGP 0.831335
GHS 16.323206
GIP 0.831335
GMD 75.129835
GNF 9095.159921
GTQ 8.094702
GYD 219.656903
HKD 8.168375
HNL 27.005897
HRK 7.539969
HTG 138.850789
HUF 400.891551
IDR 17158.760763
ILS 3.763259
IMP 0.831335
INR 91.53754
IQD 1376.462491
IRR 44249.063574
ISK 145.684787
JEP 0.831335
JMD 165.584394
JOD 0.745494
JPY 156.71341
KES 136.06779
KGS 91.886335
KHR 4221.852127
KMF 493.45131
KPW 945.645371
KRW 1504.920048
KWD 0.323973
KYD 0.874903
KZT 523.723315
LAK 22800.943825
LBP 94093.294545
LKR 310.372351
LRD 208.308395
LSL 19.312247
LTL 3.102546
LVL 0.635579
LYD 5.122311
MAD 10.422765
MDL 19.579977
MGA 4954.21443
MKD 61.565452
MMK 2205.610824
MNT 3641.226443
MOP 8.4086
MRU 42.197491
MUR 48.786071
MVR 16.129429
MWK 1818.821571
MXN 21.533774
MYR 4.646872
MZN 67.151946
NAD 19.312534
NGN 1576.164928
NIO 38.625173
NOK 11.67797
NPR 146.409909
NZD 1.836874
OMR 0.40453
PAB 1.049889
PEN 3.869906
PGK 4.217386
PHP 60.897956
PKR 293.78617
PLN 4.143319
PYG 8305.823565
QAR 3.825463
RON 4.977315
RSD 117.163188
RUB 90.997516
RWF 1471.028617
SAR 3.940618
SBD 8.868198
SCR 15.158498
SDG 631.491903
SEK 11.133018
SGD 1.404638
SHP 0.834941
SLE 24.103469
SLL 22033.387767
SOS 600.490798
SRD 37.253274
STD 21748.087409
SVC 9.186741
SYP 13661.600422
SZL 19.313005
THB 35.552135
TJS 11.459521
TMT 3.688079
TND 3.328204
TOP 2.46093
TRY 38.297914
TTD 7.135721
TWD 34.445714
TZS 2750.2908
UAH 43.776185
UGX 3866.642135
USD 1.050735
UYU 45.001961
UZS 13566.036611
VES 66.629959
VND 26830.511235
VUV 128.187958
WST 2.95874
XAF 656.559817
XAG 0.033277
XAU 0.000361
XCD 2.839663
XDR 0.799753
XOF 655.658438
XPF 119.331742
YER 259.925543
ZAR 19.373904
ZMK 9457.871427
ZMW 29.633913
ZWL 338.336153
  • RBGPF

    0.5700

    65.42

    +0.87%

  • RYCEF

    0.0600

    7.73

    +0.78%

  • CMSC

    0.1550

    23.575

    +0.66%

  • RIO

    -0.7500

    61.99

    -1.21%

  • SCS

    0.3550

    12.675

    +2.8%

  • BP

    -0.3770

    33.363

    -1.13%

  • GSK

    1.1600

    38.24

    +3.03%

  • NGG

    0.7400

    62.93

    +1.18%

  • CMSD

    0.2120

    23.672

    +0.9%

  • RELX

    0.6290

    49.819

    +1.26%

  • BTI

    0.4700

    38.56

    +1.22%

  • VOD

    0.2100

    8.79

    +2.39%

  • JRI

    0.0100

    12.82

    +0.08%

  • AZN

    0.4950

    75.185

    +0.66%

  • BCC

    4.6200

    108.31

    +4.27%

  • BCE

    -0.0750

    24.005

    -0.31%

UK PM pledges to spend 2.5 percent of GDP on defence by 2027
UK PM pledges to spend 2.5 percent of GDP on defence by 2027 / Photo: - - PRU/AFP

UK PM pledges to spend 2.5 percent of GDP on defence by 2027

British Prime Minister Keir Starmer pledged Tuesday to boost defence spending to 2.5 percent of the economy by 2027, as uncertainty reigns over US President Donald Trump's commitment to European security.

Text size:

Starmer expressed an intent to eventually reach three percent, a rise of 0.7 percent from current spending that would mark the biggest increase since the end of the Cold War.

His announcement comes ahead of key talks on Ukraine with Trump in Washington on Thursday.

It will be seen as an attempt to appease the US president who has demanded that European powers pay more for their own security.

The UK spent 2.3 percent of gross domestic product (GDP) on defence in 2023/24.

Starmer's Labour government had previously committed to increasing defence spending to 2.5 percent, but had not set a timeline.

The prime minister told parliament the increase would be funded by cutting overseas development aid from 0.5 percent of gross national income (GNI) to 0.3 percent.

Starmer added he hopes to hike spending to three percent of GDP in the next parliament, which would fall during a five-year period after elections expected in 2029.

The initial rise of 0.2 percent would cost the government £13.4 billion ($16.9 billion) more every year from 2027, said Starmer.

That will mean some "extremely difficult and painful choices", he told lawmakers, but added it would contribute to the "biggest sustained increase in defence spending since the end of the Cold War".

The government would "set a clear ambition for defence spending to rise to 3 percent of GDP in the next parliament," he added.

Trump has demanded that NATO allies more than double their defence spending targets to five percent of economic output.

- 'Modernise' -

The United States currently spends around 3.3 percent on defence.

When he meets Trump, Starmer faces a difficult balancing act between backing Ukraine while not annoying the US leader.

He has indicated he will reaffirm support for Ukraine and President Volodymyr Zelensky and insist that Kyiv is at the heart of negotiations for a truce with Russia.

Trump has opened discussions with Moscow to bring an end to the war,

Starmer will hope that his announcement helps to convince Trump to provide security guarantees for any European peacekeepers sent to Ukraine to monitor any ceasefire that is agreed.

The UK premier and France's President Emmanuel Macron have said they are willing to send British and French troops to Ukraine, but they would require a US backup.

Security guarantees would likely take the form of air cover, intelligence and logistics.

"The nature of warfare has changed significantly. That is clear from the battlefield in Ukraine, and so we must modernise and reform our capabilities as we invest," Starmer said.

"This investment means that the UK will strengthen its position as a leader in NATO and in the collective defence of our continent, and we should welcome that role."

F.A.Dsouza--DT