Despite these restrictions, he promised to increase defense spending to 3% of gross domestic product in 2030, then to 3.5% by 2035. Although John Healey assures that the objective of 3% of GDP for defense in 2030 is transpartisan, it is far from having convinced the deputies.
John Healey presented his first budget this Wednesday, faced with reduced room for maneuver due to inflation, which stood at 3.5% in September, and public borrowing costs having reached levels not seen in decades.
In June, the latter slammed the door of the government.
To cope with this difficult financial situation, the minister asked each ministry to reduce its spending by 1%.
Achieving this second objective is estimated at £35 billion.
But he still promised to increase defense spending to 3% of GDP in 2030 and to 3.5% by 2035.
Although he assures that the objective of 3% of GDP for defense in 2030 is transpartisan, John Healey is far from having convinced the deputies.
The latter presented his first budget this Wednesday, but inflation (3.5% in September) and public borrowing costs, which have reached levels not seen in decades, offer him reduced room for maneuver.
To achieve this, John Healey asked each ministry to reduce its spending by 1%.