British Chancellor of the Exchequer Rachel Reeves said on Friday in a statement, cited by the United Kingdom media, that the "world has changed" with the entire globe "feeling the consequences."
"That's why we are going further and faster to protect our country, reform our public services and kickstart economic growth to deliver on our Plan for Change. And why we are launching the biggest sustained increase in defence spending since the Cold War," she remarked.
Her comments come after data showed that the country's gross domestic product (GDP) slipped 0.1% in January, coming in below analyst expectations.
