Skip to content
Monday 10 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,874.89
-0.24%
DAX
26,423.10
+0.39%
CAC 40
8,717.93
+0.03%
STOXX 50
6,550.00
+0.40%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 29 October 2018 4:06 pm  |  Updated:  Tuesday 21 May 2019 4:21 pm

Military to get £1bn more over next two years to fund cyber and nuclear capability

By: James Booth

Add as a preferred source on Google

NULL

The UK’s military is to receive £1bn more over the next two years to help plug funding shortfalls, the chancellor Philip Hammond said in his budget speech today.

Hammond told the House of Commons that the money would be used to boost the UK’s cyber capabilities, its anti-submarine warfare capacity and its submarine-borne nuclear deterrent.

“As a former defence secretary myself, I understand the immediate pressures our armed forces are facing," he said.

“I will provide an additional £1bn to the @DefenceHQ to cover the remainder of this year and next…
…to boost our cyber capabilities…
…and our anti-submarine warfare capacity…” #Budget2018 pic.twitter.com/AK45FU9hjt

— HM Treasury (@hmtreasury) October 29, 2018

Hammond said the money is designed "to boost our cyber capabilities and our anti-submarine warfare capacity, and to maintain the pace of the Dreadnought programme to ensure continuous-at-sea-deterrence".

The Dreadnought programme is the future replacement for the Vanguard-class of submarines that carry the UK’s nuclear weapons.

Hammond said the defence secretary Gavin Williamson is currently carrying out a defence review.

 

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Related Topics

  • People
  • Philip Hammond

Trending Articles

  • Back to basics: Sainsbury’s gradual retreat from the British high street

  • Thames Water faces fresh threat to survival after pensions regulation breach

  • Hargreaves Lansdown orders staff back to office

  • FTSE 100 Live: Stocks drop as US-Iran peace stalls; Oil climbs higher

  • PwC’s Embankment HQ to get major makeover ahead of Canary Wharf move

More from Morning Wire

  • BAE Systems raises guidance yet Burnham wavers on defence

    Industrials
    Andy Burnham and Volodymyr Zelenskyy walking, with uniformed military personnel in background.
  • Babcock and Rolls-Royce stocks rally after Healey appointment

    Industrials
    Defence secretary John Healey is leading calls for further investment in the sector.
  • AI, drones and data: Defence giants splash record $4.1bn on tech start-ups

    Tech
    Defence
  • UK government probes OpenAI breach after ‘unprecedented’ hack

    Tech
    Sam Altman discussing OpenAIs ChatGPT advancements at a press conference, emphasizing AI innovation and future developments
  • ‘Extremely dangerous’: AI warfare much bigger threat than LLM model advances, experts warn

    AI
    Swarm of AI-powered drones flying over a city skyline, symbolizing modern warfare and autonomous technology.
  • Westinghouse and Amentum Partner to Expand Delivery Capacity for APX Fleet Deployment

    Business Wire
  • As it happened: FTSE 100 rises to defy tech gloom; oil creeps up on fresh Iran tensions

    Markets
    Donald Trump with hand on chin, appearing contemplative during a public event, wearing a suit and red tie.
  • London-listed healthcare services firm hit by cyberattack

    Markets
    Assura has been the subject of a ferocious bidding war for nearly six months
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook