However, there are major question marks over how the additional spending will be paid for while Downing Street has also been forced to deny that the new money for the military is simply an attempt to impress US President-elect Joe Biden.

There is growing speculation that some of the money could come from the foreign aid budget, with Chancellor Rishi Sunak due to set out the Government‘s one-year Spending Review next week.

The UK is setting up „RAF Space Command“, a wing of the Armed Forces which will be capable of launching Britain‘s first rocket as early as 2022, the prime minister has announced.

Boris Johnson said a military investment of £16.5 billion will also fund the development of Artificial Intelligence and a National Cyber Force aimed at targeting terrorism, organised crime and hostile state activity.