Rishi Sunak is leading from the front with defence spending pledge

It is no secret that I have spent years making vocal and robust representations for greater defence spending - in 2015 it was to make a manifesto commitment to spend at least 2% of GDP on defence.

This 2% target was adopted by Nato in 2014, and it is a testament to Britain’s vital role in protecting Euro-Atlantic security that the UK has consistently met this target each year since it was first introduced.

But it is hard to understate the seismic shifts that have taken place in the global security landscape over the past ten years.

An axis of authoritarian states is causing more instability, more rapidly, in more places, and along with their proxies, is attempting to reshape the world order against the fundamental values our country represents and our troops have fought and died for - values of democracy, freedom, and the rule of law.

The ideological imperative is clear, and for the Conservatives it always has been – whether faced with the fascist regimes of the 1940s or the anti-British, anti-Nato rhetoric of the Corbyn years.

But hostile state actors are increasingly posing a real risk to the UK’s security and prosperity.

Recent months have seen British ships come under regular attack by Iran’s Houthi proxies, hindering world trade and freedom of navigation, and disrupting supplies of crucial goods to our high streets.

Our friends in Ukraine have endured an unrelenting barrage of attacks as part of Putin’s illegal and barbaric war, which has in turn sent energy bills soaring around the world.

The UK responded decisively to these acts of Russian aggression, with our military aid to Ukraine set to hit £3 billion this year. However, these acts – along with those that never see the light of day - impact British people and British businesses in a score of unseen ways, and we can no longer close our eyes and wish them away.

Just as the costs of failing to support Ukraine would be far greater than the costs of repelling Putin, the costs of failing to increase our defence spending are dwarfed by the costs of inaction.

And whilst the Government has previously committed to spending 2.5% of GDP on defence when fiscal conditions allow, our adversaries, allies and industries can now be assured that this is no longer some vague aspiration for the future but a concrete, generational investment in Britain’s security. The safety of our people can never be seen as discretionary spending.

The Prime Minister has been clear that, starting today, he will increase defence spending to 2.5% of GDP by 2030 - an additional £75bn over the next six years.

This is a truly Conservative commitment, underpinned by Conservative economic values – with a clear plan for what will be spent, when it will be spent it, and how it will be paid for.

The number of civil servants soared to deal with the pandemic – the PM is right to get that headcount back down to pre-2020 levels so we can channel that money into defence instead.

Onlookers should be left in no doubt that this is a landmark moment in the defence of the realm. This is the leadership the world needs and the Prime Minister is undoubtedly leading from the front.

As the UK confirms her place as the biggest defence power in Europe, I commend the Prime Minister’s record. It is a mark of leadership to take difficult decisions now to protect the security and prosperity of future generations.

Like me, he understands that the first duty of any Government must be to the national security and defence of the UK, and his actions reinforce his words. And if 2.5% becomes the new benchmark for all our Nato partners to reach, allied defence spending would increase by over £140 billion.

It is incumbent upon states to put new investment forward, and the UK is once again leading the way