We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Firing blanks: The UK’s $61.5 billion military expenditure in 2020 is a misguided attempt to show it’s still a global big gun

12 39 47

The coronavirus pandemic cost the world trillions of dollars in lost economic output last year, with most countries entering recession at some point during 2020. Despite the world economy contracting by 4.4%, last year’s global military expenditure reached new heights, at almost $2 trillion (USD). This is a 2.6% increase on the previous year and the highest amount since 1988 (adjusted for inflation) – when the Cold War was still in progress – according to the Stockholm International Peace Research Institute (SIPRI) think tank.

Furthermore, the London-based International Institute for Strategic Studies research centre reports that the UK’s military spending increased to $61.5 billion in 2020. This was the fourth highest spend globally, and just ahead of the military budget of Russia, a nation which has a population more than twice that of the UK and a landmass 70 times greater. At the same time, the UK lost hundreds of billions of pounds in 2020 as a consequence of the pandemic.

Interestingly, while the UK plans to continue increasing its military expenditure over the next few years, there are plans to cut the number of full-time trained soldiers in the British Army from the........

© RT.com

Get it on Google Play