Prime Minister Rishi Sunak has said he would lift defence spending to 2.5 percent of the country’s annual GDP by 2030, saying the British arms industry must be on a “war footing” when the world is at its most dangerous since the Cold War.

Standing alongside NATO leader Jens Stoltenberg, Sunak said the United Kingdom would spend an additional 75 billion pounds ($93bn) over six years to increase the production of munitions and drones, making the UK the second-largest defence spender in NATO.