Leader of the Opposition, Keir Starmer, proposes to increase the defence budget to 2.5% in his ambition to ‘keep Britain safe.’
In the face of rising global threats, increasing Russian aggression, and concomitant desire to protect NATO allies, Starmer proposes that the UK’s nuclear deterrent is crucial in keeping Britain safe and secure.
Alongside Shadow Secretary of State for Defence, John Healey and Australian high commissioner to the UK, Stephen Smith, today, Starmer visited Barrow-in-Furness shipyard in Cumbria where his party has said they would build all four new Dreadnought nuclear submarines.
Starmer has also promised to put in place a nuclear deterrent triple lock if elected.
However, questions remain as to how far this differs from the Conservative Party’s plans and what this means in economic terms.
Same, Same but Different?
Starmer’s defence Budget commitment matches that of Chancellor Jeremy Hunt’s. Only a month ago, Sunak made the same visit with the Chancellor, after declaring a “critical national endeavour.”
Nevertheless, his proposal signals a significant shift from the Corbyn years. Keir Starmer is making it clear that his party has changed and is “utterly committed” to the nation’s defence and armed forces.
He is supported by those more centrist in the party, with Ed Miliband stating, “I think that’s a really, really important duty of government. The first duty of government is to make sure our country is safe and secure.”
Considering the recent data which shows that urban communities are, overall, more leftist in their views, such wanting to de-prioritising issues of defence investment, this pledge further conveys that Labour are emboldened – sticking to their re-branded, more centrist image.
Fiscal Implications of Defence Budget:
With Labour’s recent reversal of a previous pledge to pump a £28 billion investment into the green sector, a similar question remains – where will the money come from?
Whilst Starmer has noted that the 2.5% rise will depend on whether it fits with Labour’s fiscal rules, his proposed £31 billion to replace pre-existing ones in Barrow by 2030, raise concerns over Labour’s spending capacity.
Furthermore, if GDP contracts, 2.5% of the new figures may even be less than the current spending figures now.
Starmer’s defence investment has a broader goal: to improve the economy by prioritise British jobs, British skills, with him stating that “I want to see more homegrown involvement in the nuclear submarine supply chain – and our wider defence manufacturing. With Labour, the defence industry will be hardwired into my national mission to drive economic growth across the UK.”
However, SNP spokesperson for West Dubartonshire, Martin Docherty-Hughes claimed that the money could be better spent elsewhere. He claims, “it is … grotesque that Sir Keir Starmer is prepared to throw billions more down the drain when his party claim there is no money to improve our NHS, help families with the cost of living or to properly invest in our green energy future.”
Final Thought:
In proposing to raise defence spending to 2.5%, the Labour Party is aiming to fortify Britain’s security in an increasingly uncertain world.
Emphasising the importance of safeguarding against global threats and bolstering alliances like NATO, Starmer underscores the necessity of a robust defence strategy, including the maintenance of the UK’s nuclear deterrent.
Despite parallels with the Conservative Party’s stance, this commitment signals a remarkably quick departure from the past, showcasing Labour’s renewed dedication to national defence.
However, amidst concerns over fiscal sustainability and competing priorities, questions linger about the feasibility and economic implications of such a significant investment.
Nonetheless, Starmer’s vision extends beyond defence, aiming to stimulate economic growth and promote domestic expertise through strategic investment in the defence industry. Yet, criticism persists, suggesting alternative avenues for expenditure.
For more analysis on the Labour’s manifesto in the run up to the next general election, read our article here.