The UK has promised to raise defence spending to levels not seen since the 1980s. That means tens of billions more pounds each year, with big implications for the armed forces, the economy, and the public finances.

In this episode, Helen speaks to Matthew Savill (RUSI) and Max Warner (IFS) about what defence spending actually pays for, how it has changed over time, and what the government’s new commitments could mean for growth and future military capabilities.

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Why is defence spending rising?