During his speech on the United States Midway museum ship in the Californian port on Sunday, Sunak said that the world had become more volatile, thus increasing the threats to the security of the UK, the media reported.
"And that’s why we’re investing £5 billion more in our world-beating armed forces over the next two years and increasing our defense spending to 2.5% of GDP so we can continue to be a world leader when it comes to defense and keeping our country safe," the prime minister said, as quoted by British newspaper.
10 February 2023, 22:28 GMT
British defense spending in 2021-2022 amounted to 71.4 billion pound, the media reported, adding that UK Secretary of State for Defense Ben Wallace had earlier urged to increase the country's defense budget by 8-11 billion pounds.
Additional 5 billion pounds will allow to raise the UK's defense spending to 2.25% of the GDP by 2025 from 2% of the GDP in 2020.
The UK government announced on Monday that the country will invest additional 5 billion pounds ($6.05 billion) in defense, replenishing shells stocks and modernizing the nuclear arsenal.
"The 2023 Integrated Review Refresh [IR23] confirms that an additional £5 billion will be provided to the Ministry of Defence over the next two years, to help replenish and bolster vital ammunition stocks, modernise the UK’s nuclear enterprise and fund the next phase of the AUKUS submarine programme," the government statement said.
The developments come amid the UK's growing concern about the crisis in Ukraine and the increasing military, financial and diplomatic activity of the Chinese Communist Party.