Britain plans to allocate 3 billion pounds annually for Ukraine.
31.10.2024
1448
Journalist
Shostal Oleksandr
31.10.2024
1448
The Chancellor of the Exchequer of the United Kingdom, Rachel Reeves, proposed to the British Parliament a draft budget that provides for an increase in defense funding and the preservation of support for Ukraine.
During her speech in Parliament, Reeves noted that expenditures in Britain exceed revenues, so some budget items will be reduced, and some taxes increased.
However, regarding defense, the Chancellor emphasized that funding would be increased to achieve the target of 2.5% of GDP.
"I announce a total increase in the Ministry of Defense budget by 2.9 billion pounds next year so that Britain can confidently fulfill its commitments within NATO and ensure continuous military support for Ukraine amounting to 3 billion pounds annually," Reeves stated.
She also noted that the annual military support for Ukraine will be extended in addition to a loan of 2.26 billion pounds already provided under the G7 agreement on unfreezing Russian assets.
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