British Government Announces Major Defense Spending Boost
BY: Daniel Darling In what may reasonably be described as a surprise, British Prime Minister Boris Johnson has announced a major investment package for the Ministry of Defense – marking the largest such spending boost since the end of the Cold War. The four-year funding deal amounts to an extra £16.5 billion ($21.9 billion) for the armed forces – a sharp break from the expected financial squeeze facing the MoD as the U.K. struggles with the economic and fiscal fallout stemming from the COVID-19 pandemic. When Chancellor of the Exchequer Rishi Sunak cancelled the expected comprehensive spending review in October…