The pledge: committing to spend 2.5 per cent of GDP on defence by 2030 The last few years have seen two unprecedented international events: a global pandemic and a war in Ukraine. Despite the impact of rising inflation and our generous cost of living package on the public finances, we have still been able to increase defence spending to a record £50 billion a year – including an uplift of £24 billion, which is the largest single investment in defence since the end of the Cold War. However, the security environment is deteriorating, with threats to the UK and its interests increasing. An axis of authoritarian states with different values to ours like Russia, Iran, North Korea, and China are increasingly assertive, acting together and making common cause in an attempt to reshape the world order. We need to deter threats now because, while the cost of doing so is significant, the cost of inaction would be higher still – both in terms of our security and our prosperity. That is why the Con...