New Zealand aims to nearly double defence spending to 2% of GDP

Lucy Craymer - Reuters - 07/04
New Zealand said on Monday it would boost defence spending by NZ$9 billion ($5 billion) over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years, at a time of rapidly growing tension worldwide.
WELLINGTON, April 7 (Reuters) - New Zealand said on Monday it would boost defence spending by NZ$9 billion ($5 billion) over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years, at a time of rapidly growing tension worldwide.
The details came in remarks by Prime Minister Christopher Luxon, who called for more spending on defence to ensure prosperity.

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"New Zealand and our allies and partners across the world are no longer in a benign environment," he told a press conference at the release of the Defence Capability Plan.
"My primary focus is the economic importance of this country. However, there can be no prosperity without security, and defence is one vital component of that picture."
The Defence Capability Plan maps o...
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