LONDON, June 30 (Reuters) - British Prime Minister Keir Starmer said on Tuesday defence spending would increase to nearly £80 billion ($105.85 billion) a year by 2029, putting it on a path to hit 3% of GDP on military expenditure.

Starmer said spending would rise to 2.7% of GDP from 2.3% in 2024, describing the increase as a 27% real-terms boost and making defence the top priority for the next spending review.

He said under the broader NATO commitment to spend 5% on defence and national security, the spending plan would take Britain to 4.2% under that commitment.

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