Britain's defense spending will reach 2.5% of its gross domestic product (GDP) by the end of this decade, Prime Minister Boris Johnson said, Reuters reports.
"Countries ... are recognising that they need to spend more. In our case, that means meeting and being prepared to exceed the target we set for ourselves a decade ago," Johnson told a news conference at the NATO summit in Madrid.
UK defense spending is projected to reach 2.3% of GDP this year due to increased military support for Ukraine, the government said.
Defense Secretary Ben Wallace said earlier this week that the UK must increase defense investment to counter threats not only from Russia, but also from China and elsewhere. He said investment should increase from 2024, when the current spending package should be revised.