Overview

This bill mandates the UK government to maintain defence spending at a minimum of 2% of its Gross Domestic Product (GDP), aligning with the NATO guideline. It requires annual reports to Parliament detailing defence expenditure, subject to independent audit, and necessitates explanations if the 2% target is not met.

Description

This bill legally obligates the Secretary of State to ensure UK defence spending remains at or above 2% of GDP. Key features include:

• Annual Reporting: The Secretary of State must annually submit a report to Parliament detailing UK defence expenditure, broken down into personnel, equipment, and operations.
• Independent Audit: The National Audit Office will independently audit the reported figures.
• Transparency and Accountability: If spending falls below 2% of GDP, the Secretary of State must explain the reasons to Parliament and outline corrective actions.
• Definition of "Relevant Period": The bill defines the relevant reporting period as either a calendar year or a financial year, depending on the data source.

Government Spending

The bill doesn't directly dictate a specific level of government spending. Instead, it sets a minimum percentage of GDP (2%) that must be allocated to defence. The actual amount will fluctuate based on the UK's GDP. No specific figures are provided in the bill itself.

Groups Affected

• The Ministry of Defence (MoD): The MoD will be directly responsible for meeting the 2% target and preparing the annual reports.
• Parliament: Parliament will receive annual reports and statements regarding defence spending, enabling scrutiny and accountability.
• National Audit Office (NAO): The NAO will audit the figures reported by the MoD.
• Taxpayers: The bill's implications on the level of taxation required to fund defence spending.

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