#defence-spending

#defence-spending

Spending more on defence will be pointless unless western governments also tackle the climate crisis in poor countries, the UN's departing chief of international development has warned. The more you restrict your ability to act by simply focusing on what's happening inside your country, the more vulnerable you become, said Achim Steiner, who recently completed his second term as administrator of the UN Development Programme (UNDP), which works on overseas aid and lifting people out of poverty.

To lower the cost of defence and transport spending, the UK Government is considering reducing tax reliefs, particularly on pensions and inheritance tax, as suggested by tax experts.

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"Defence tech startups need a clear pathway from proof of value to adoption," she said.

Even before recent tariff announcements, the spring statement felt like a stopgap. If the government is serious about increasing defence spending or supporting struggling departments, it will either have to raise taxes or bend the rules.