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UK | Defence spending hit $31.5 billion in 2022-2023
Defence Redefined
Published on 16/02/2024 at 17:23
Britain’s defence expenditure was more than $31.5 billion for the period 2022-2023, according to official statistics.
The figure is higher by $2.3 billion compared to the 2021-2022 budget, adjusted for inflation.
As the relevant report of the Ministry of Defence states, the increase in defence spending underlines the government’s commitment to strengthening and improving the domestic defence industry, while supporting the economy by creating new jobs, as stated by the Minister of Defence, Grant Shapps.
Indeed, an estimated 209,000 jobs are supported through the Ministry of Defence and the report shows that for the third consecutive year defence spending has risen, with the Defence Secretary saying this is due to emerging threats, which have forced Britain to invest in upgrading Armed Forces’ weapon systems and personnel support.
Source: Defense Post
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