Britain Tries to Figure Out How to Defend Itself

 Following WWII, most of Europe was destroyed.  So America was their defender.  But 80 years later some folks are wondering why America is spending $1 trillion per year when our allies are spending so little?  Trump is the dude who says, “how is that fair?  Pay your fair share!”

Today we see an article where leaders in Britain are realizing that they can’t assume a free ride on America anymore.

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Liberal Democrat leader Sir Ed Davey said the bonds would "give ordinary people the opportunity to contribute to Britain's security".

A spokesperson for the government said "new debt instruments" were kept under review but that they had to represent "value for money" and "be consistent with wider fiscal objectives".

Calls to increase defence spending have intensified in recent years, following Russia's full-scale invasion of Ukraine in 2022 and the election of US President Donald Trump, who has frequently criticised Nato countries for failing to spend enough on their military.

The Labour government has pledged to raise overall defence spending from 2.3% to 2.5% of national income by 2027, at an estimated cost of an additional £6bn a year.

It has also promised to raise levels to 3.5% by 2035, in line with a pledge by Nato members last year.

Setting out his party's proposal, Sir Ed said: "Now is the moment to be clear-eyed about the threats facing Britain - Vladimir Putin is waging war in Europe while Donald Trump is tearing up the rules and alliances that keep us safe.

He said Britain and its allies "must rapidly strengthen our defences to deter the likes of Putin... it is much better to invest now in deterring a war than having to fight one".

The Liberal Democrats said the money raised from issuing bonds would be ring-fenced for defence and the investment would help deliver "growth, jobs and higher revenues" for the government "which would partially offset the cost of additional debt servicing".

The party added the scheme would need to be accompanied by an overhaul of the Ministry of Defence procurement process, which has previously been criticised as wasteful.

Their proposal, the party says, would be similar to the bonds scheme used during World War One and World War Two.

Individual citizens could lend the government money, which would be paid back in six to 10 years with interest. By the end of 1945, the scheme had raised £1.754m.

https://www.aol.com/articles/let-public-buy-war-bonds-021222998.html