The commitment signals an intention to finance the recently announced Defence Investment Plan, according to the report. Funding sources have yet to be identified, with a public spending review next year expected to determine how the increases would be paid for.
A new task force on innovative defence financing will seek to bring more private and foreign capital into British defence. The National Wealth Fund and British Business Bank are also expected to provide up to £5 billion over the next four years for activities supporting UK security.
Britain will deepen cooperation with the Netherlands, Poland and Finland on joint procurement, military systems development and finding markets for shared products. A new Ministry of Defence regulatory team will work on legal changes to make testing uncrewed systems easier.
The government also announced an intention to provide £10 billion in assistance to Ukraine, without specifying when that support would be delivered. Negotiations will continue over financing research and development for a dual-use gas turbine that Rolls-Royce could design at an estimated cost of £2.5 billion over a decade.
