Business Secretary Jonathan Reynolds has acknowledged the need for increased defense spending in the UK, with the government’s upcoming spending review expected to outline plans for this. Pressure to increase spending has arisen following US President Trump’s call for NATO members to allocate 5% of GDP to defense, as opposed to the current 2%. Labour has pledged to raise the UK’s defense spending to 2.5%, emphasizing the importance of national security and prosperity.
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Stocks tumble on inflation fears as Trump policies continue to cause market volatility
Your support helps The Independent cover developing stories on reproductive rights, climate change, and Big Tech, providing in-depth investigations and documentaries like 'The A Word'. Donations enable journalists to report on both sides of the story, offering quality journalism accessible to all Americans without paywalls. Market indices fell as investors feared inflation and trade uncertainties under the Trump administration, with higher-than-expected inflation data and looming tariffs on imported autos causing major stock drops and impacting...
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