The FCDO fared much worse, with an average annual real-terms cut in its budget of 5.0%. But it is lower than any other major department, with the exception of the Foreign, Commonwealth and Development Office (FCDO).
This growth compares favourably with the sharp reductions in spending which the Ministry of Defence (MoD) endured during the five years after the 2010 Strategic Defence and Security Review (SDSR). On current GDP projections, this should keep the UK comfortably above NATO’s 2% target up to 2025 and beyond (it was 2.29% in 2021). This is similar to the 1.1% average growth rate in real spending between 2015//20. Total defence spending, in real terms, is set to increase by an average annual rate of 1.5% over the five years between 2019//25.
The publication of the Spending Review in November 2021 (SR21) filled this gap. In contrast to previous national security reviews, the 2021 Integrated Review (IR), published in March, was not accompanied by a multi-year spending review.
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