The following comment by the Rt Hon Anne-Marie Trevelyan MP appeared in The Council on Geostrategy’s online magazine Britain's World on 15th March 2024.
As the British economy turns a corner in response to the budget delivered last week, there is one principle which must not be forgotten: that our prosperity is built on security.
This is a geopolitical reality reflected in defence budgets around the world. Indeed, the PRC this year announced an increase of 7.2% in its defence budget, and Russia now spends over 7% of its GDP on defence to carry out its illegal war in Ukraine.
Strengthening defence and security is not just necessary to deter the threats emanating from those two countries, but also to protect the UK’s future prosperity. For example, the impact that disrupted global supply chains would have on the British economy in the long-term can not be understated.
For far too long, Britain and its allies and partners have allowed our defence and security to erode under the false premise of a ‘peace dividend’. This must be changed, and we must invest to ensure we can defend and deter effectively. The UK needs to increase its domestic defence and security spending to 2.5% of GDP, and beyond.
We need to grow our skilled workforce, and to strengthen our nuclear deterrent. We need to give industry long-term assurances for a continuous shipbuilding pipeline, and we must get our munitions lines expanding again to aid Ukraine.
None of this is wasted cash. Complex platforms which lead to military advantage do not simply appear; they need investment. We must start that growth now, invest at pace to support our allies and stay ahead of our adversaries.
