Can Britain afford to skimp on its armed forces?
David Cameron has come under pressure to increase spending on Britain's armed forces following criticism from senior American military figures.
But a study by the Royal United Services Institute says that it is inevitable that spending will fall below that level and warns that 30,000 more military personnel could lose their jobs.
Further cuts would be catastrophic for Britain, for our foreign policy, and for our national prestige", says the former home secretary, David Davis, in The Guardian.
We now have fewer active RAF squadrons than at any time since the cold war, at a time when Russia is making "near daily incursions towards our airspace". Balancing the budget is important, but "defence of the realm is any government's first duty".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published