Rishi Sunak to announce £5B boost for UK defense budgets on trip to US

UK Prime Minister Rishi Sunak is set to unveil a £5 billion boost to UK defense spending on a trip to the US this weekend, Report informs referring to Daily Mail.

The PM will announce the multi-billion uplift as he holds talks with Joe Biden and Australian counterpart Anthony Albanese over the AUKUS nuclear submarine pact.

However, the settlement is not expected to be anywhere near the £8 billion-£11 billion extra Defense Secretary Ben Wallace has been demanding to deal with surging inflation.

Tory MPs have been backing Wallace’s push for more cash to cover the cost of the war in Ukraine and soaring prices, amid fears the military has been 'cut to the bone'.

However, Chancellor Jeremy Hunt has been trying to beat the increase down as it scrambles to balance the books in the Budget next week.