Published by Global Banking & Finance Review®
Posted on February 25, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleThe UK aims to allocate 3% of GDP to defence by 2029, funded by reducing the aid budget from 0.5% to 0.3% of GDP, as announced by PM Keir Starmer.
LONDON (Reuters) - Britain will aim to spend 3% of its GDP on defence in the next parliament, due to begin in 2029, and will help to fund that increased spending by cutting its aid budget, Prime Minister Keir Starmer said on Tuesday.
Starmer said the aid budget would be reduced from 0.5% of GDP to 0.3% in 2027.
(Reporting by Sachin Ravikumar and Kate Holton; editing by William James)
Britain will aim to spend 3% of its GDP on defence in the next parliament, which is set to begin in 2029.
The increased defence spending will be funded by cutting the aid budget.
The aid budget will be reduced from 0.5% of GDP to 0.3% in 2027.
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