Global defence budget jumps to record high of $2440bn

Global military expenditure has reached a record high of $2440bn (£1970bn) after the largest annual rise in government spending on arms in over a decade, according to a report. The 6.8% increase between 2022 and 2023 was the steepest since 2009, pushing spending to the highest recorded by the Stockholm International Peace Research Institute (Sipri) in its 60-year history. For the first time, analysts at the thinktank recorded a rise in military outlay in all five geographical regions: Africa, Europe, the Middle East, Asia and Oceania and the Americas. Nan Tian, a senior researcher with Sipri's military expenditure and arms…