That would mean that the new policy has only added £6.44 billion to defence spending in 2027/28 compared to what would otherwise have been the case without spending being cut as a proportion of GDP.
After taking into account the amount that spending would have risen anyway, the new plans increase defence spending by a little over £6 billion per year.
If defence spending remained at 2.3% of GDP, then the OBR’s figures would imply an increase to £74.11 billion by the 2027/28 financial year, even without the new policy.
That means spending £13.4 billion more on defence every year from 2027.”.
It appears to compare defence spending in 2027/28 directly with spending today.
