Here’s how to fund defence without sacrificing other projects

Campaigners have urged the government to pursue an ambitious policy of EU membership to unlock the necessary growth required for increased defence spending.

Today, the Prime Minister, Keir Starmer, announced that the Defence Investment Plan (DIP) would see an extra £15bn invested in the UK’s defence capabilities. The outgoing PM announced that by 2029, the UK Government would spend £80bn a year on defence, with funding for the increase achieved by enacting cuts to some energy and road projects.

Mirroring the PM’s speech this morning, the Chancellor, Rachel Reeves, said: “UK security is our number one priority, and this money will ensure that the UK can fight the wars of tomorrow, not the past.”

Commenting on funding cuts to energy and road projects to support defence spending, Naomi Smith, Chief Executive of Best for Britain, which campaigns for closer UK-EU ties and has identified voters’ rising support for the UK’s EU membership, said: 

“Borrowing from Peter to pay Paul kicks the can down the road. A government prepared to be bold on Europe, could of course have it all. As our latest analysis shows, renewed EU membership could boost UK GDP by at least £13bn in one year, and over £92bn in the long run, easily funding Britain’s defence plans without sacrificing other projects.”