Defence Budget
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Defence Budget
That very generous Chancellor has promised that defence spending will continue to be 2% of GDP. How kind. But what many fail to realise is that figures today made public show that GDP will reduce significantly over the next few years. So obviously a Sleath cut.
We are in a recession, there is less money in the pot, anyone who though Defence was going to get a larger percentage of the smaller pot is as crazy as Liz Truss. Call it a stealth cut if you like, it is just reality.
Also depends on what you regard as defence spending, I believe the UK includes military pensions for example. Different countries have different rules with varying degrees of smoke and mirrors involved.
If you listen to what Hunt actually said, which was;
“both the Prime Minister and I see the need to increase defence spending, but we think it right to not agree the level of commitment until after the publication of the Integrated Review refresh. So I have asked that the refresh be complete ahead of the next budget.”
So, apart from me thinking that they had previously announced that the refresh would be complete before the end of the year, it seems that it could have been a lot worse.
And of course not doing anything till next Spring means that the retirement of Hercules and Tranche 1 Typhoon will still go ahead.
“both the Prime Minister and I see the need to increase defence spending, but we think it right to not agree the level of commitment until after the publication of the Integrated Review refresh. So I have asked that the refresh be complete ahead of the next budget.”
So, apart from me thinking that they had previously announced that the refresh would be complete before the end of the year, it seems that it could have been a lot worse.
And of course not doing anything till next Spring means that the retirement of Hercules and Tranche 1 Typhoon will still go ahead.
But that is exactly what he DID announce! Defence, along with Education and Health WILL get a larger percentage of the pot, just that the Defence increase will not be agreed until the IR refresh is complete.
I wasn't entirely confident that Liz and Kwase's proposed 3% was going to fly especially with all the wildfire tax cuts, I understand the philosophy of encouraging growth through tax relief. However, there is a reason for paying taxes, now we are where we are I think clinging to a Defence Budget of 2.5% (so I understand) will have to suffice unless things really do come apart over Ukraine,Taiwan, Iran etc.
FB
FB
TBH the can has been kicked down the road - most of the "handouts" are now and most of he increases are after the next election so it'll probably be a Labour Govt by then.
The RN have managed to get two significant commitments in the last week - pity there is no news on more F-35's or more Infantry
The RN have managed to get two significant commitments in the last week - pity there is no news on more F-35's or more Infantry
Rattman,
“assuming he means consecutive, but either way its rubbish, GDP definition doesn't change when government change in most western nations. It stays the same”
They managed to change it to reduce the growth of Armed Forces pensions by moving the index linking from RPI to CPI. How we laughed with joy!
“assuming he means consecutive, but either way its rubbish, GDP definition doesn't change when government change in most western nations. It stays the same”
They managed to change it to reduce the growth of Armed Forces pensions by moving the index linking from RPI to CPI. How we laughed with joy!
The bottom line is NATO membership, if you drop below a certain percentage of GDP you're out. I think it was Trump who stated that pensions shouldn't count, the budget should be spent on hardware with pensions on top. I'm sure he made this statement during his European drawdown season.
"The bottom line is NATO membership, if you drop below a certain percentage of GDP you're out."
has anyone ever been expelled on budgetary grounds?
has anyone ever been expelled on budgetary grounds?
