The Prime Minister of the United Kingdom has announced that the country’s defense spending will rise to 2.5% of GDP by 2027, with an annual boost of £13.4 billion.

“A generational challenge requires a generational response,” he stated, describing this funding as a “collective effort of society” that will impact industries, housing, and the lives of British citizens.

The increase in the defense budget will be partially covered by cuts to foreign aid. The British Prime Minister also expressed his intention to set an even higher target of 3% of GDP in the next parliamentary term, should his government be re-elected.

Initially, the British government had planned to present a “roadmap” for achieving the 2.5% target through a strategic defense review in the spring. However, pressure mounted following discussions between the U.S. President and Vladimir Putin regarding the end of the war in Ukraine, prompting European leaders to adopt a tougher stance on defense.