Investing.com -- UK Defense Secretary John Healey has announced a significant reorganization of the country's defense sector, earmarking £20 billion ($25 billion) for military spending as part of a commitment to bolster European security. This undertaking is being described as the most substantial transformation of the UK defense in over half a century.

Healey revealed the creation of a new unit within his department to manage this hefty budget. This unit, led by the newly appointed National Armaments Director, aims to consolidate various defense procurement budgets into one. This move is intended to minimize waste, reduce duplication, and better meet the requirements of the UK's armed forces.

The Defense Secretary anticipates that this strategic consolidation will save British taxpayers an estimated £10 billion in the coming decade. The new unit will be responsible for executing the £20 billion budget, which will be used to develop and maintain the nation's military arsenal.

Healey made these announcements during a speech at the Institute for Government in London on Tuesday. He emphasized the urgency of the UK's re-armament in the current global context. The Defense Secretary also likened the new unit to a FTSE 100 company within the Ministry of Defense, tasked with delivering the best capabilities to front-line forces.

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