When I am out and about speaking to constituents, it is clear just how much everyone values our Armed Forces. I have been lucky enough to spend time with the brave men and women of our Armed Forces and this is a message I always impart to our service personnel.
Be it serving soldiers or veterans, everyone I speak to in Cannock Chase has a heartfelt respect and gratitude for our Armed Forces community. I would particularly like to thank the Hednesford Branch of the Staffordshire Regimental Association for inviting me to their recent Annual Dinner.
Further away from Cannock Chase it is clear that we live in an increasingly insecure world, and the Government recently made a major announcement on defence spending.
We will increase defence spending to 2.5 per cent of GDP by 2030. Given the deteriorating security environment and with inflation falling to 3.2 per cent, we can now set 2030 as the date to meet our new 2.5 per cent of GDP defence spending commitment.
This increase in defence spending will be fully funded with no increase in borrowing or debt. We have a clear plan for what we will spend, when we will spend it, and how we will pay for it. This plan makes the UK the largest defence power in Europe and the second largest in NATO.
The UK is leading the way in Europe and setting a new standard among the major NATO economies. At this turning point in European security, if 2.5 per cent becomes a new benchmark for NATO partners to reach, allied defence spending would increase by over £140 billion. That would provide safety and security for the British people that far outstrips anything we could achieve alone.
Our increased investment will be focused on: firing up the UK industrial base, including £10 billion on the new munitions strategy; ensuring that our Armed Forces are benefiting from the latest technology, and guaranteeing our long-term support to Ukraine. We will also make sure that this new investment is spent more effectively with a radical set of reforms.
Defence of the realm is and should be, a major priority of any government and so I very much welcome this recent announcement.
As always, if you need my help with anything at all, please do not hesitate to contact me via e-mail at [email protected] or by telephone on 01543 877 142.
