Rishi Sunak has pledged an additional £5 billion in funding for the British military over the next two years, citing the increasing threats posed by China and Russia. The announcement was made ahead of a meeting of the AUKUS Alliance, comprising the UK, Australia, and the United States. “It is clear that the world has become more volatile, the threats to our security have increased, and that is why we are investing £5 billion more in our Armed Forces over the next two years and increasing our defence spending, so we can continue to be a world leader when it comes to defence and keep our country safe,” said Sunak.

Today, in San Diego, President Joe Biden is meeting with Sunak and the Australian Prime Minister to address global threats, including China, the world’s second-largest economy and most populous country.

The most significant announcement of the day is a deal to transfer nuclear technology from the US and UK to Australia in the form of know-how for making nuclear-powered submarines. The submarines will also be manufactured in the UK and US.

Meanwhile, in the UK, Foreign Secretary James Cleverly announced a 50% increase in resources for the Ministry of Defence, raising the military budget from 2% to 2.5% of national income. The increase, totaling £5 billion, will go towards increasing the UK’s nuclear capability and replenishing ammunition stocks depleted by the war in Ukraine.

Today marks an important day for the UK-US Special Relationship.

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