Money and war: Financing defence in a world of combat

Talk about defence and you will most likely end up talking about targets. Targets for public spending, production of weapons and ammunition, international co-operation and security and resilience. But setting and discussing these targets is one thing, how to achieve them is another question entirely. How do governments juggle fiscal constraints, low growth, public appetite and high debt with a rapidly changing reality?

Because the world has changed in the last few years. The conflicts between Russia-Ukraine and the US-Israel-Iran are the most prolific, but barely veiled threats to sovereignty are coming from across the globe.

This edition of the OMFIF Bulletin gets to grips with complicated questions about how to fund defence spending. It does not shy away from the need for more investment, both public and private, and it examines various mechanisms and initiatives for how to scale this up. It acknowledges the macroeconomic impact of greater defence spending, as well as what it means for capital markets and sovereign debt. And it assesses the topic against an increasingly fraught backdrop of energy insecurity and climate crisis.

Enter your details on the right to access the Bulletin.