Two per cent of national income to be spent on defence
The government has committed to spending two per cent of GDP on UK defence, not just this year but every year as Chancellor George Osborne delivered the first fully-Conservative Budget in the House of Commons since 1996.
The Chancellor of the Exchequer also revealed how the defence budget is set to gain additional resources and how a Joint Security Fund, worth £1.5 billion a year by the end of Parliament is to be set up.
In addition to this, Osborne announced that funding will be made available for a memorial to the victims of the Tunisia massacre that left 30 Britons dead at the end of June.
Speaking in the House of Commons he said a memorial would be commissioned to commemorate those who lost their lives as victims of overseas terrorism.
Osborne said: ”In the week of the poignant anniversary of the 7/7 attacks we should recognise too our victims of overseas terrorism have no permanent memorial. We will now find one, as well as a specific memorial to those murdered in Tunisia.”
Prime Minister David Cameron said: "Those who lost their lives in Tunisia were innocent victims of a brutal terrorist atrocity. It is right that we mark and commemorate them and others murdered by terrorists overseas, appropriately and support the loved ones they have left behind in every way we can."
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