British defence spending will reach 2.5% of GDP by 2027, Prime Minister Keir Starmer said on Tuesday, setting out the country's biggest sustained increase in its defence budget since the end of the Cold War.

Prime Minister Keir Starmer says the U.K. will raise defense spending to 2.5% of gross domestic product by 2027

Britain will aim to spend 3% of its GDP on defence in the next parliament, due to begin in 2029, and will help to fund that increased spending by cutting its aid budget, Prime Minister Keir Starmer said on Tuesday.