The U.K. will allocate three billion pounds ($3.8 billion) per year to military support for Ukraine, according to the draft budget submitted to the parliament on Oct. 30.
The proposed budget, which includes some tax increases and slashed expenditures, will increase the national defense budget and maintain the U.K.'s previous commitments to Ukraine's military support.
"Today, I am announcing a total increase to the Ministry of Defense's Budget of £2.9 billion next year, ensuring the U.K. comfortably exceeds our NATO commitments and providing guaranteed military support to Ukraine of £3 billion per year, for as long as it takes," U.K. Finance Minister Rachel Reeves announced on Oct. 30.
The funds are in addition to a £2.26 billion ($2.9 billion) loan, backed by frozen Russian assets, that the U.K. government announced last week.
The U.K.'s Labor party, led by Prime Minister Keir Starmer, came to power in July following a resounding electoral victory. The draft budget aims to tackle "a decade and a half" of stagnation along with high national debt.
Despite these financial challenges, the Labor budget does not propose any cuts to Ukraine's military aid and builds on the previous government's promises. Former Prime Minister Rishi Sunak pledged last May to send Ukraine £3 billion per year for "as long as is necessary."
The U.K. has consistently voiced strong support for Ukraine, alongside the U.S. and Germany. The country has pledgedover $9 billion in military assistance since Russia's full-scale invasion in February 2022.
Daniel Kochis
(Updated: )
