Reasons to be Fearful

Whilst there are reasons to be cheerful about the UK economy the world in which we sit looks particularly dangerous.  The situation in Ukraine worsening, Syria is in turmoil, ISIL is threatening Iraq and Syria, Pakistan rent by Taliban outrage, and nuclear armed North Korea completely unpredictable.  It could be argued that the threat to the West and our way of life has never been greater.

Indeed, India is  increasing its defence spending as is Japan.  Japan is in dispute with Russia and China over disputed territory and other Far East States such as South Korea remain vulnerable. Parts of South America and Africa remain unstable. With the basis of their economy undermined by the collapse of the oil price and smarting from EU sanctions we should not expect Russia to take their present situation lying down.  They are not going to give up over Ukraine and may even threaten other Baltic states.

Traditional support for NATO by the USA is in decline as that Nation shifts its focus to the East.  European Nations continue to reduce their defence spending in the cosy delusion that European Union will keep the peace.  Meantime, China will spend $132bn on defence, up 12.2% on last year, and Russia has more than doubled spending on defence over the past ten years.

I rest the case for defence!