00:00Based on our assessment of the international situation and our foreign policy goals, I've
00:08decided that the era of cutting our defence budget must end, and it ends now.
00:15I'm increasing defence spending by £24.1 billion over the next four years.
00:23Emerging technologies visible on the horizon will make the returns from defence investment
00:29infinitely greater.
00:31We have a chance to break free from the vicious circle whereby we ordered ever-decreasing
00:38numbers of ever-more-expensive items of military hardware, squandering billions along the way.
00:45Britain tipped the scales of history and did immense good for the world.
00:51Now we have a chance to follow in this great tradition, to end the era of retreat, to transform
00:57our armed forces, bolster our global influence, unite and level up across our country, protect
01:03our people and defend the free societies in which we fervently believe.
01:08The new RAF Space Command, RAF Space Command, launching British satellites and our first
01:14rocket from Scotland in 2022.
