Defence Spending (Hansard, 4 July 1997)

§ Mr. Hancock
To ask the Secretary of State for Defence if it is his policy to follow the previous Governments defence spending plans for the year 1999–00. [6355]
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§ Dr. Reid
The Government has said that it is committed to living within the spending plans of the previous administration for the first two years. No decisions have been taken for 1999–00.

§ Mr. Key
To ask the Secretary of State for Defence if he will estimate the annual saving to public funds of bringing the United Kingdoms defence spending as a percentage of gross domestic product into line with the average of European countries which are members of NATO. [6838]

§ Dr. Reid
To bring the percentage of gross domestic product accounted for by defence spending to the level of the average for the European members of NATO would require a reduction of around £5 billion a year in the UK defence budget.