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".
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will Rachel Reeves hike taxes in Autumn Budget?Chancellor Rachel Reeves is set to unveil her second Autumn Budget on Wednesday, 26 November. Follow live updates and analysis ahead of the fiscal event
-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
