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The Latest Breaking News from GDP

Johnson pledges £55bn more defence cash for 2020s amid Russia threat

The PM committed Britain to increasing spending to 2.5% of GDP by the end of the decade and urged Nato allies to boost their own military budgets.

The Independent UK

Boris Johnson commits to raising UK defence spending to 2.5% of GDP by end of decade

The Prime Minister said that the ‘cost of freedom’ is ‘always worth paying’

Evening Standard

Bad peace for Ukraine would be appalling for the world, says Boris Johnson

Boris Johnson also pledged to spend 2.5% of GDP on defence by the end of the decade

Evening Standard

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Johnson commits to raising UK defence spending to 2.5% of GDP by end of decade

The Prime Minister said that the ‘cost of freedom’ is ‘always worth paying’.

The Independent UK

Boris Johnson pledges to raise UK defence spending to 2.5% - but only by 2030

The Prime Minister said the 'logical conclusion' of his plans was that defence spending would rise from 2% to 2.5% of GDP - but only by the end of the decade and he didn't spell out exactly how

Daily Mirror

People's disposable income has fallen constantly for a year for first time ever, figures show

It's the first time ever that real disposable income has fallen for four quarters in a row

Wales Online

Millions of families across UK see disposable income squeezed now for a year, according to official figures

Millions of families across Britain have seen their disposable incomes squeezed for a year as the cost-of-living crisis grows, according to official figures.

Evening Standard

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NATO criticises China’s ‘coercive policies’ as regional arms race builds

Total global military spending reached record levels in 2021, and the number of weapons being purchased worldwide only continues to grow.

Crikey

As US Economy Weathers Inflation, GDP Growth Turns Negative: Are We Headed For A Recession?

For the first time since the start of the COVID-19 pandemic in 2020, the Bureau of Economic Analysis has reported a decrease in real gross domestic product –— GDP.

Benzinga

Why U.S. Stocks Are Trading Higher, GDP Report And More

U.S. stocks traded higher this morning, with the Dow Jones gaining around 180 points on Wednesday.

Benzinga

U.S. Stock Futures Edge Higher; GDP Report In Focus

Pre-open movers

Benzinga

Wednesday briefing: Defence secretary Ben Wallace goes on the warpath over military spending

In today’s newsletter: As Boris Johnson, armed forces leaders and Wallace give mixed signals on military spending plans, Archie Bland tries to make the numbers add up

The Guardian - UK

Boris Johnson tells Nato leaders they must ‘dig deep’ on defence spending as threats grow

Boris Johnson has urged Nato allies to “dig deep” and spend more on defence, warning that threats to the West over the next decade are set to grow.

Evening Standard

Boris Johnson seeks to defuse row over abandoning defence spending pledge

PM insists manifesto promise of above-inflation increase will be kept despite Downing Street ‘reality check’ briefing

The Guardian - UK

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Daily Mirror

Boris Johnson poised to ditch key UK defence spending promise despite Russia's war

The Prime Minister will trumpet Britain's 2% of GDP spending on defence - but another part of his policy, to raise spending above inflation, could soon be scrapped. It came as Boris Johnson insisted "I don't think" Britain will end up at war with Russia

The Guardian - UK

Ben Wallace ‘wants defence budget lifted to 2.5% of GDP by 2028’

Defence secretary’s leaked letter to PM warns of shortfalls in military personnel and long-range rocket artillery

The Independent UK

Wallace calls for 20% hike in defence spending – reports

A defence source did not deny reports that the Defence Secretary asked the PM to lift the annual military budget to 2.5% of GDP by 2028.

The Conversation

Beyond GDP: Jim Chalmers' historic moment to build a well-being economy for Australia

Australia’s new federal treasurer, Jim Chalmers, spoke regularly in opposition about a well-being budget and the need to measure more than just the traditional economic indicators.

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The Conversation

Ukraine war: all eyes on Lithuania as sanctions close Russian land access to Kaliningrad

Tensions between Russia and Nato, already stretched considerably by the invasion of Ukraine, have ratcheted up even further over Kaliningrad, a small piece of Russian territory sandwiched between Poland and Lithuania on the Baltic coast and cut off from mainland Russia.

Reuters

Lithuania president eyes hike in defence spending to host more NATO troops

Lithuania must raise defence spending to 3% of GDP to enable it to host a much larger number of NATO troops, its president said ahead of NATO summit that will address how to counter rising security threats posed by Russia's invasion of Ukraine.

Benzinga

Xi Jinping To Take 'More Forceful Measures' To Achieve 2022 Economic Growth Targets

Chinese President Xi Jinping on Wednesday made a rare statement that his country aims to achieve its economic goals for the year, despite analysts trimming the GDP growth target for the country.

Asharq Al-Awsat

IMF: Overall Saudi GDP Projected to Grow 7.6%

The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus will increase to 17.4 percent of GDP in 2022, said the Fund experts. An…

Bangkok Post

Fitch keeps Thai credit rating BBB+

Fitch Ratings has affirmed Thailand's credit rating at "BBB+" with a stable outlook, which is acceptable to the government, says government spokesman Thanakorn Wangboonkongchana.

Bangkok Post

Let's count what really adds up to national wealth

Despite well-known problems with using gross domestic product (GDP) as an indicator of human development, policymakers around the world still seem obsessed with it.

The Independent UK

Architect of Boris Johnson’s EU withdrawal deal to declare ‘Brexit is working’

‘No cause for regrets’: Lord Frost defends Brexit despite forecasts it will cost UK workers £470 a year in lost pay and cut GDP by 4 per cent

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