Chancellor poised to boost defence budget
RISHI Sunak is expected to raise defence spending, which could save the jobs of up to 9,000 troops.
Westminster sources say the Chancellor plans to lift the MoD’s £49billion budget in Wednesday’s mini-Budget in response to the threat posed by Vladimir Putin’s brutal invasion of Ukraine.
One told the Sunday Mirror: “Ministers are no longer talking about defence cuts. They now see the need to beef up our forces.”
Such a move could reverse the planned reduction of soldiers from 82,000 to 73,000 by 2025.
More than 50 Tory MPs also want a cut in vehicle fuel duty and VAT using the £2billion Mr Sunak has gained from higher petrol tax receipts. A 5% cut would reduce the cost of a litre of petrol by 6p, and mirror cuts seen in Ireland.
Grants for home energy bills may also be tweaked, but a National Insurance hike next month is expected to go ahead.