'Fiscal bazooka for Europe's economy': German lawmakers approves huge defence, infrastructure spending
Tuesday, 18 March 2025 German lawmakers approved a massive defence and infrastructure spending plan proposed by incoming chancellor Friedrich Merz, allocating up to a trillion euros over the next decade. This plan aims to strengthen Europe's security amid concerns over the US stance on the Ukraine war. The proposal received strong support, paving the way for a new European defence community.
Rachel Reeves has announced that defence spending will increase to 2.5% of GDP because we are "living in an uncertain world". The chancellor adds that another £2.2bn will be provided for the Ministry..
The Armed Forces minister says the £2.2bn increase in defence spending is necessary in "these more insecure and dangerous times". Luke Pollard adds the money will be put towards "more advanced..
A shadow Treasury minister says he welcomes the chancellor's £2.2bn boost to defence spending, but adds, "to invest in defence you've got to have a strong economy as well" and that "growth has..
Tuesday, 18 March 2025
![Chancellor increases defence spending to 2.5% of GDP [Video]](https://video.newsserve.net/300/v/20250326/1406278988-Chancellor-increases-defence-spending-to-of.jpg)
![Govt: Defence spending boost needed in these dangerous times [Video]](https://video.newsserve.net/300/v/20250326/1406270756-Govt-Defence-spending-boost-needed-in-these-dangerous.jpg)
![Tories: We welcome defence boost but growth has flatlined [Video]](https://video.newsserve.net/300/v/20250326/1406260946-Tories-We-welcome-defence-boost-but-growth-has.jpg)
