Forecast: General Government Expenditure on Defence in the UK

From 2024 to 2028, UK defence expenditure as a percentage of GDP is forecasted to increase steadily from 2.23% to 2.28%. Year-on-year growth is modest, with increments of only 0.01 percentage points annually. In 2023, the defence expenditure stood at a similar level, suggesting consistent spending relative to GDP over the years.

Future trends to watch for:

• Potential changes in geopolitical tensions that might drive increased defence spending.
• Government policy shifts which could alter defence expenditure priorities.
• Economic growth or contraction impacting GDP proportion spent on defence.
• Technological advancements necessitating higher R&D investments in defence.