RE: MOD contracts and Ship building10 Mar 2022 09:55
*This month to announce*
Britain could increase its defence spending as soon as this month, as the Ministry of Defence plans to review its military upgrade based on the failings of Russian forces in Ukraine.
Government sources told The Telegraph that new money could be agreed by the Chancellor in the spring statement on March 23, potentially to fund more deliveries of weapons to the Ukrainians or to improve Britain’s forces.
The possibility has not been ruled out by the Treasury, although no discussions have taken place yet and the Ministry of Defence has made no formal submission, it is understood.
At present, the lethal and non-lethal aid offered by Britain has been paid for out of existing departmental budgets. However, Boris Johnson has stressed that the UK will step up the provision of arms.