UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
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- Total addressable market sizing ($)
- Competitor analysis
- Cost analysis
- Market forecasting
- Growth identification
- Increasing closing ratio
- Increasing closing order value
- Estimating product potential
- Calculating sales forecasting
- Supply and demand analysis
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UK Chancellor Rachel Reeves used her Spring statement to commit £2.2 billion (US$2.8 billion) of additional funding in 2026 to “turn the UK into a defence industrial superpower”.
The move came in the wake of Prime Minister Keir Starmer's statement on 25 February that the UK would increase its commitment to defence spending to 2.5% of GDP by 2027, and 3% by 2034 at the latest.
The Chancellor said the additional defence spending commitment, which will be mostly funded by a shakeup of the country's welfare system, was necessary because “the world has changed” since she and the Labour government
The move came in the wake of Prime Minister Keir Starmer's statement on 25 February that the UK would increase its commitment to defence spending to 2.5% of GDP by 2027, and 3% by 2034 at the latest.
The Chancellor said the additional defence spending commitment, which will be mostly funded by a shakeup of the country's welfare system, was necessary because “the world has changed” since she and the Labour government
