The war in Ukraine “has an impact” on the British economy but “a price to pay” | World | New

Technology Minister Chris Philp said the UK would do “everything Ukraine needs us to do to support it”, despite warning that the war in Ukraine is “having an economic impact” on the British economy. He explained that the UK had already spent “£1.3bn in support of Ukraine”, but stressed “there is no price too high for defending freedom”. The claims came as Defense Secretary Ben Wallace is expected to call for the defense budget to be raised to 2.5% of GDP by 2028.

Mr Philp told Times Radio: “We have already spent £1.3 billion supporting Ukraine with humanitarian aid and military support.

“Obviously, the war in Ukraine has an economic impact.

“It’s a price worth paying.

“There is no price too high for the defense of freedom.

“We’ve learned from history that if you try to appease abusers, especially an abuser like Vladimir Putin, it usually doesn’t end well for anyone.

“Essentially, they never stop.

“You can never draw a line and say, we’re going to stop.

“We thought a line was drawn in 2014 after their invasion of Crimea and their effective invasion of the areas of Donbass they occupied.

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“It’s up to Ukraine to decide, it’s the sovereignty of Ukraine, the territory of Ukraine that was invaded.

“We must do whatever the Ukrainian government expects of us to support them, even if it comes at a cost to us, which they obviously do.

Defense Secretary Ben Wallace has urged the Prime Minister to increase spending on the British Armed Forces in light of the Russian invasion of Ukraine.

Mr Wallace, for example, is expected to call for the defense budget to be increased to 2.5% by 2028.

The UK currently spends about 2% of its GDP on defence.

In the wake of Mr Wallace’s call for increased investment in defence, speaking on LBC this morning, Mr Philp said: ‘The Prime Minister and the Chancellor must balance all spending demands in the government as a whole and also consider the broader economy. .

“They will obviously do it in a measured and balanced way.”

He also added: ‘It’s up to the Chancellor of the Exchequer to make the decision. He is the one who has access to all the information from all the ministries. He has access to all the data on the direction of tax revenues and everything else”.

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