UK set to increase defence spending by 0.01% of GDP by 2025-26

Chancellor Rishi Sunak to unveil plans in Autumn Statement

The UK is set to increase defence spending by 0.01% of GDP by 2025-26, according to reports. The plans are expected to be unveiled by Chancellor Rishi Sunak in his Autumn Statement on 17 November.

The move comes as the UK faces rising threats from Russia and China

The increase in defence spending is in response to the growing threats from Russia and China. Russia has been accused of interfering in elections and carrying out cyber attacks, while China is rapidly expanding its military. The UK's defence spending currently stands at 2.2% of GDP, which is below the NATO target of 2%.

The decision to increase defence spending has been welcomed by some but criticized by others

The decision to increase defence spending has been welcomed by some, who argue that it is necessary to protect the UK from growing threats. However, others have criticized the move, arguing that it will lead to cuts in other areas of public spending.

The Autumn Statement will also include measures to support the UK economy

The Autumn Statement will also include measures to support the UK economy, which is facing a number of challenges, including the cost of living crisis. The Chancellor is expected to announce a package of measures to help businesses and households.