CPS Head of Economic Research Adam Memon contributed to a City A.M. debate on the question “With the US army chief warning on UK defence cuts, is Britain’s global position under threat?”, Tuesday 3 March 2015.
Adam answered no:
“Britain’s global position depends most of all on its economic power. A country can only project strength abroad if it has a strong and growing economy at home, so Britain’s continued performance here secures its position at the top level of global diplomacy. The most important component of our defence capacity is an effective nuclear deterrent. The political consensus over the Trident nuclear system means that Britain is still a serious military power. Defence spending is important, and so is maintaining a resolute commitment to Nato. Indeed, Britain still has the fifth largest defence budget in the world and the second biggest in Nato. Ultimately, nobody seriously doubts that Britain would abide by its Nato Article 5 obligations. However, its global position also depends on many other factors that have little to do with defence spending – a permanent seat on the UN Security Council and energy security, to name but two.”
Date Added: Tuesday 3rd March 2015
