Axel Lloyd
JF-Expert Member
- Sep 10, 2017
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PARIS — France and the United Kingdom both announced important hikes in their defense budgets this week. But where the UK remained vague as to what the extra money would be spent on, France gave precise details about how it plans to spend the extra euros.
Under a new budget proposal, France’s defense budget in 2023 would be €43.9bn ($42.2bn), an increase of €3 billion ($2.89 billion, a 7.4 percent raise) on the 2022 figure. That continues the upward trend in defense spending that started in 2017, moving the defense budget up 36 percent from €32.3 billion ($31.1 billion) in 2017 — and meeting the NATO requirement for 2 percent of GDP to be spent on defense
In the UK, Defense Secretary Ben Wallace said in an interview on Sept. 26 with the Sunday Telegraph that defense spending would effectively double by 2029 would reach £100 billion ($107 billion) compared to just £48 billion ($51 billion) today. And this despite the tanking pound and general economic turmoil created by new Chancellor of the Exchequer Kwasi Kwarteng’s mini-budget, announced on Sept. 23.
France, UK pledge big increases in defense spending for coming years - Breaking Defense
Under a new budget proposal, France’s defense budget in 2023 would be €43.9bn ($42.2bn), an increase of €3 billion ($2.89 billion, a 7.4 percent raise) on the 2022 figure. That continues the upward trend in defense spending that started in 2017, moving the defense budget up 36 percent from €32.3 billion ($31.1 billion) in 2017 — and meeting the NATO requirement for 2 percent of GDP to be spent on defense
In the UK, Defense Secretary Ben Wallace said in an interview on Sept. 26 with the Sunday Telegraph that defense spending would effectively double by 2029 would reach £100 billion ($107 billion) compared to just £48 billion ($51 billion) today. And this despite the tanking pound and general economic turmoil created by new Chancellor of the Exchequer Kwasi Kwarteng’s mini-budget, announced on Sept. 23.
France, UK pledge big increases in defense spending for coming years - Breaking Defense