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Britain's Chancellor of the Exchequer Rachel Reeves poses with the red Budget Box as she leaves 11 Downing Street, in central London, on October 30, 2024, to present the government's annual Autumn budget to Parliament.  JUSTIN TALLIS/Pool via REUTERS
Britain's Chancellor of the Exchequer Rachel Reeves poses with the red Budget Box as she leaves 11 Downing Street, in central London, on October 30, 2024, to present the government's annual Autumn budget to Parliament. JUSTIN TALLIS/Pool via REUTERS
Britain's Prime Minister Keir Starmer leaves 10 Downing Street, on the day of the budget announcement, in London, Britain October 30, 2024. REUTERS/Isabel Infantes
Britain's Prime Minister Keir Starmer leaves 10 Downing Street, on the day of the budget announcement, in London, Britain October 30, 2024. REUTERS/Isabel Infantes
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UK's Reeves pledges more cash for defence spending

October 30th, 2024 | 13:51 PM WORLD United Kingdom 1

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By Reuters

British finance minister Rachel Reeves said on Wednesday she would provide the defence ministry with an additional 2.9 billion pounds next year and promised an annual 3 billion-pound support for Ukraine would continue for "as long as it takes".

In her first budget speech, Reeves said the extra spending would take Britain towards its goal of allocating 2.5% of GDP towards defence, and ensure the country exceeded the NATO commitment of spending 2%.

She added that the promise to maintain the annual military support to Ukraine came on top of a 2.26 billion pound loan, part of the G7's Extraordinary Revenue Acceleration agreement announced last week, to aid the country in its war against Russia.

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