Britain increases defence spending over Russia's war in Ukraine

It is reported by The Daily Telegraph.

It is noted that the Ministries of Finance and Defense of the United Kingdom have reached an agreement in principle to increase defense spending. Appropriate measures are needed to prevent a reduction in the real level of investment in the defense sector by high inflation.

The publication emphasizes that the increase in defense spending was a demand of the head of the relevant ministry, Ben Wallace, who insisted that while the war rages in Ukraine, spending cuts are not acceptable.

British Finance Minister Jeremy Gant is expected to announce changes to the budget in the spring of 2023. Until then, the government will discuss specific details of the increase in defense spending.

Analysts claim the Ministry of Defense budget for 2024-2025 should increase by at least £1.5 billion ($1.8 billion) - from £48.6 billion ($58.6 billion) to £50.1 billion ($60.4 billion) annually.

Inflation in the country is 10.7% compared to last year, which is the highest rate in the last 40 years.

• On December 19, the British government reported that the United Kingdom next year plans to transfer to the Ukrainian military several hundred thousand artillery munitions worth about 250 million pounds. In addition, British Defense Secretary Ben Wallace does not rule out the possibility of supplying Ukraine with Storm Shadow cruise missiles.