"The takeaway is that we should not expect the Government to be able to meaningfully increase what we spend on defence if that's what it decides it wants to do without significantly cutting other Government programmes or raising taxes."
"Meeting Nato's 3.5% of national income target would cost an additional 35 billion annually. This figure, significantly more than the UK's current 2.4% allocation, is equivalent to the combined budgets of the Ministry of Justice and the Home Office."
The Institute for Fiscal Studies warns the UK government faces difficult fiscal choices regarding defense spending. To meet NATO's 3.5% of national income target, the government would need to allocate an additional £35 billion annually, nearly double the current 2.4% defense budget. This amount equals the combined budgets of the Ministry of Justice and Home Office. The IFS suggests funding this increase could require raising the main VAT rate by 3 to 3.5 percentage points. Director Helen Miller emphasizes the government cannot significantly increase defense spending without either substantially cutting other programs or raising taxes.
Read at www.independent.co.uk
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