UK prepared to pay to access EU defence programmes
Summary
The UK government is willing to pay for UK companies to participate in European Union (EU) defense programs. They aim to be involved in these programs and keep UK-made products and ideas secure. The country is also increasing defense spending and supporting Ukraine.Key Facts
- The UK wants its companies to access EU defense programs worth hundreds of billions.
- The UK is prepared to pay a fair share to join these programs while keeping its own technology and export opportunities.
- Three-quarters of UK spending to support Ukraine will be with UK companies.
- The EU has suggested the UK might not join defense programs without paying.
- European Commission plans to boost defense spending include raising up to €800 billion.
- BAE Systems, a major UK defense company, is increasing ammunition production.
- The UK government plans to raise defense spending from 2.3% to 2.5% of GDP by 2027.
- An extra £6 billion for defense will be moved from the international aid budget.
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