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| Ukip economic policy: Spend £38bn every year on defence but quit the EU, axe foreign aid, scrap HS2 and slash Scottish spending | Ukip economic policy: Spend £38bn every year on defence but quit the EU, axe foreign aid, scrap HS2 and slash Scottish spending |
| (about 2 hours later) | |
| Ukip has laid out its spending plans, pledging to spend £3 billion more than the Tories on defence and paying for it by quitting the EU, axing foreign aid and HS2 and slashing Scotland’s budget. | Ukip has laid out its spending plans, pledging to spend £3 billion more than the Tories on defence and paying for it by quitting the EU, axing foreign aid and HS2 and slashing Scotland’s budget. |
| The commitment to increase spending on the Armed Forces puts pressure on the Conservatives to meet Nato's 2 per cent of GDP target, a move David Cameron urged world leaders to honour last year. | The commitment to increase spending on the Armed Forces puts pressure on the Conservatives to meet Nato's 2 per cent of GDP target, a move David Cameron urged world leaders to honour last year. |
| It would mean the overall defence budget rising to a staggering £38 billion. | It would mean the overall defence budget rising to a staggering £38 billion. |
| This figure is based on the 2015-16 spending plans for defence laid out in last week’s Budget and includes £7 billion of capital spend on defence equipment. | This figure is based on the 2015-16 spending plans for defence laid out in last week’s Budget and includes £7 billion of capital spend on defence equipment. |
| Patrick O'Flynn set out Ukip's economic policies this morning | Patrick O'Flynn set out Ukip's economic policies this morning |
| The massive hike in defence spending was proposed by the party despite Nigel Farage insisting Britain must stop its involvement in “endless foreign wars”. | The massive hike in defence spending was proposed by the party despite Nigel Farage insisting Britain must stop its involvement in “endless foreign wars”. |
| But Patrick O’Flynn, Ukip’s economics spokesman, said the pledge would allow Britain to “properly fund our defence and still have a sceptical position about getting dragged into foreign wars”. | |
| Ukip's pledge to increase spending on the Armed Forces by £3 billion a year puts pressure on Cameron to do the same (Getty) | Ukip's pledge to increase spending on the Armed Forces by £3 billion a year puts pressure on Cameron to do the same (Getty) |
| In addition, the party has pledged to: | In addition, the party has pledged to: |
| So where would Ukip find the money? Easy: It would find a combined £25 billion from quitting the EU, scrapping the foreign aid budget, binning the high speed rail project and cutting the amount of money we send to Scotland. | So where would Ukip find the money? Easy: It would find a combined £25 billion from quitting the EU, scrapping the foreign aid budget, binning the high speed rail project and cutting the amount of money we send to Scotland. |
| And Mr O’Flynn claims Ukip is the “only party that has already identified where we would find the bulk of the spending cuts to finance our plans”. | And Mr O’Flynn claims Ukip is the “only party that has already identified where we would find the bulk of the spending cuts to finance our plans”. |
| Nigel Farage makes his support for the Armed Forces clear during last year's Heywood and Middleton by-election (PA) | Nigel Farage makes his support for the Armed Forces clear during last year's Heywood and Middleton by-election (PA) |
| Here's a breakdown of how Ukip plans to save the taxpayer an additional £25 billion a year: | Here's a breakdown of how Ukip plans to save the taxpayer an additional £25 billion a year: |