London is preparing to invest more in its defence sector as Russia poses a growing threat to Europe. Almost two-thirds of finance executives said they expected investment in Britain's military capabilities to increase next year, according to a survey by accounting firm KPMG. More than a quarter of respondents said they expected defence spending to increase “a lot more” over the next 12 months.
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This marks a dramatic shift in the attitude of the British government and financial and industrial circles towards the defense industry, after a years-long boom in investment in environmental, social and governance projects, whose proponents argued that supporting defense was unethical.
Karim Haji, head of financial services at KPMG, said that the government's increased defense spending in response to growing geopolitical threats has made it unviable to avoid military investment, The Telegraph writes.
He added: “These results indicate a growing recognition that national security, geopolitical coherence and market integrity are now inseparable from financial sector stability.”
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The findings come amid growing concerns about the threat Russia poses to the West, with NATO Secretary General Mark Rutte warning that Russia could attack a member country within the next five years.
Earlier this month, Putin said that Russia does not plan to start a war with Europe, but is ready to do so “right now” if it is threatened.
Executives who responded to a KPMG survey named defense investment as their top priority for the coming year, ahead of maintaining central bank independence in the fight against inflation and strengthening regulatory cooperation between the UK and the US.
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So in Britain, they believe that increased investment in national security is crucial to ensuring financial stability next year.
Previously, “FACTS” published an interview with Roman Bezsmertny about the fact that the situation in Ukraine and the world will worsen, because Moscow, together with China, is trying to bring the United States to the status of an isolated state.