The United Kingdom’s Ministry of Defense is set to receive an additional £1 billion for anti-submarine warfare and cyber capabilities and Dreadnought program.
“I will today provide an additional £1bn to the MOD to cover the remainder of this year and next……to boost our cyber capabilities……and our anti-submarine warfare capacity……and to maintain the pace of the Dreadnought programme to ensure Continuous At Sea Deterrence,” Philip Hammond, Chancellor of the Exchequer said during his Budget presentation speech at the UK Houses of the Parliament Monday.
“As a former defence secretary myself, I understand the immediate pressures our Armed Forces are facing. So I will today provide an additional £1 billion to the MOD to cover the remainder of this year and next,” Hammond said.
The UK spends more on defence than any NATO member except the US, but over the last year we have had stark reminders of the scale, scope and complexity of the threats we face.
“The Defence Secretary is working with the Cabinet Office and the Treasury to conduct a Review into the modernisation of our armed forces in response to the evolving threat…which will form the basis for a comprehensive consideration of Defence spending next year,” he stated.