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May Pledges to Boost U.K. Defense Spending in Tory Manifesto

Bloomberg business news

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Prime Minister Theresa May has pledged to boost Britain’s defense budget with above-inflation increases on top of meeting NATO’s target, making security one of the focal points of her election campaign.

The Tories will commit to increase defense spending by at least 0.5 percentage points above the rate of inflation every year, as well as renewing the government’s pledge to meet the North Atlantic Treaty Organization 2 percent of GDP spending target. The policy pledge will be part the Conservative manifesto, according to an emailed statement by the party.