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The Latest Breaking News from Defense Spending

Czech government OKs bill for 2% GDP spending on military

The Czech government has approved a bill aimed at bringing defense spending at the required NATO goal of 2% of gross domestic product as Russia's war in Ukraine continues

The Independent UK

Ukraine's debts: US aims to get IMF to reexamine loan fees

A provision in the recently signed defense spending bill mandates that the United States work to ease Ukraine’s debt burden at the International Monetary Fund

The Independent UK

Chinese military sends 71 planes near to Taiwan and blames U.S. for "provocation"

Beijing slammed the U.S. for passing a defense spending bill that included provisions for Taiwan.

Axios

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China Blasts US Defense Bill While Taiwan Welcomes It

China blasted an annual US defense spending bill for hyping up the “China threat" while Taiwan welcomed the legislation, saying it demonstrated US support for the self-governing island that China says must come under its rule. “China deplores and firmly opposes this US move,” the Foreign Ministry said in a…

Asharq Al-Awsat

China blasts US defense bill while Taiwan welcomes it

China has blasted an annual U.S. defense spending bill for hyping up the “China threat” while Taiwan welcomed the legislation, saying it shows U.S. support for the self-governing island that China says must come under its rule

The Independent UK

Biden signs defense bill that repeals troop vaccine mandate

President Joe Biden has signed a nearly $858 billion defense spending bill into law despite his opposition to a Republican-backed provision in the legislation that repeals the COVID-19 vaccination requirement for U.S. troops

The Independent UK

Tomahawks part of Japan's record defense spending next year

Japan’s Cabinet has approved record defense spending next year in preparation for the country deploying U.S.-made Tomahawks and other long-range cruise missiles as part of a more offensive security strategy

The Independent UK

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The 3 Hottest Defense Stocks to Buy for 2023

Heightened geopolitical tensions have led to an increase in defense spending. The U.S. defense sector has seen a surge in demand thanks to the rising defense budgets of several countries. Therefore, investors could take advantage of the industry tailwinds by investing in fundamentally strong defense stocks Lockheed Martin (LMT), General…

StockNews.com

Lawmakers unveil bill to avoid gov't shutdown, boost Ukraine

Congressional leaders have unveiled a $1.7 trillion spending package early Tuesday that includes another large round of aid to Ukraine, a nearly 10% boost in defense spending and roughly $40 billon to assist communities across the country recovering from drought, hurricanes and other natural disasters

The Independent UK

Japan set to rise in defense spending ranking

The defense buildup approved by the government on Friday could see Japan's ranking in terms of defense expenditures rise to third in the world based on planned spending of about 11 trillion yen in fiscal 2027.

The Japan News/Yomiuri

Nevada naval air base expansion heads to Biden's desk

The U.S. Senate passed a massive expansion of a northern Nevada naval air base as part of its defense spending bill that is set to finalize a historic transfer of public land to military use

The Independent UK

1 Defense Stock to Buy Before the End of the Year and 1 to Sell

Heightened geopolitical tensions have led to increasing defense spending, boding well for the industry. While we think quality defense stock Lockheed Martin (LMT) could be an ideal addition to your portfolio before the year ends, Boeing Company (BA) might be best avoided now, considering its bleak fundamentals. Read on….

StockNews.com

Corporate tax hike eyed to cover planned rise in defense spending

A possible corporate tax hike has become the focus of attention for the government and the ruling parties as they look for a stable source of funds for a planned defense spending increase, according to sources. They also plan to discuss the idea of targeting the corporate tax hike at…

The Japan News/Yomiuri

News briefs

Lawmakers drop journalism act from ‘must-pass’ defense spending bill under pressure from Facebook

Tribune News Service

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Chicago Tribune

Lawmakers drop journalism act from ‘must-pass’ defense spending bill under pressure from Facebook

An effort to add proposed journalism legislation to an annual “must-pass” defense spending bill was shot down by lawmakers after a public face off with Meta/Facebook over required payments to publishers for online news content.

The Japan News/Yomiuri

43 trillion yen. on defense over next 5 years

Prime Minister Fumio Kishida has instructed his defense and finance ministers to earmark a total of about 43 trillion yen for defense spending under the nation's Medium Term Defense Program over the five years from fiscal 2023.

The Japan News/Yomiuri

Over 40 trillion yen sought for 5-year defense plan

Defense spending is planned to be set at more than 40 trillion yen in the next five-year defense program from fiscal 2023, according to sources.

The Japan News/Yomiuri

Political Pulse / Kishida aims to beef up defense, tackle bureaucratic sectionalism

Prime Minister Fumio Kishida has set several goals to bolster Japan's deterrence capability. One of these goals is to increase the defense budget over the next five years to match the North Atlantic Treaty Organization target of 2% of gross domestic product. Historically, Japan has limited its defense spending to…

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news in one place.

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The Japan News/Yomiuri

Kishida calls for more expansive calculation of defense spending

Prime Minister Fumio Kishida has instructed government ministries and agencies to consider a new framework under which budgets related to public infrastructure and research projects would be counted in the nation's defense-related expenditures.

The Japan News/Yomiuri

LDP eyeing corporate, income tax hikes

Yoichi Miyazawa, the chairperson of the Liberal Democratic Party's Research Commission on the Tax System, hinted in a recent interview that the LDP would consider raising corporate and income taxes to fund an increase in defense spending.

The News Lens

As Japan Marks Atomic Bomb Anniversary, Threat From China Breaks Military Taboo

Japan is planning for a massive increase in defense spending driven by the threat from China, breaking a decades-long taboo over the build-up of armed forces following its defeat in 1945.

Tribune News Service

Senate appropriators want $4 billion for ships Navy didn’t seek

WASHINGTON — The Senate Appropriations Committee’s new defense spending bill would add $4 billion to the Navy budget — money the Navy did not seek and much of which the Armed Services and House Appropriations panels did not approve — for warships built largely by the constituents of senior appropriators.

Roll Call

Senate appropriators want $4 billion for ships Navy didn't seek - Roll Call

The Senate 2023 defense spending bill would boost the Navy budget for ships built largely by the constituents of senior appropriators.

Reuters

U.S. discussing America-made fighter jets for Ukraine

(This July 22 story corrects first paragraph to show war about to enter sixth, not fifth, month)

Reuters

Japan to forgo setting ceiling on next year's defense spending - Nikkei

Japan will forgo setting a ceiling on defense spending in next fiscal year's annual budget, the Nikkei newspaper reported on Saturday, highlighting Tokyo's interest in boosting defense at a time of tension with its powerful neighbour China.

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Sristi Suman Jayaswal

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