"We have a threat of Russian aggression, in a few days time it's the four-year anniversary of the start of the conflict in Ukraine. We want a just and lasting peace, but that will not extinguish the Russia n threat, and we need to be alert to that, because that's going to affect every single person in this room, every single person in this country,"
"Our armed forces need sustained investment to meet current and future threats. This will require difficult choices, and taxpayers will inevitably contribute more to ensure the UK remains secure."
"It is very likely taxes will rise again ahead of the next general election to fund defence spending. Households should be prepared for another squeeze."
The government plans to increase defence spending for weapons, cyber defences, and NATO commitments as global tensions escalate. Former IFS director Paul Johnson warned that taxes are very likely to rise again ahead of the next general election to fund defence spending and that households should prepare for another squeeze. A senior government source said armed forces need sustained investment to meet current and future threats and that taxpayers will inevitably contribute more. The Prime Minister emphasized urgency citing the Russian threat and the Ukraine conflict anniversary. Economists warn families and businesses will feel the pinch, while opposition MPs call for efficiency first.
Read at London Business News | Londonlovesbusiness.com
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