Absolutely I believe that the 2% should be our minimum target. I think we do need to be a little more specific in directing those funds towards the most significant state-based threats. That means taking a clear-eyed look at who future great-power adversaries may be—in this case, it's clearly Russia and/or China—and what forces we will need to fight future conflicts.
In this sense, I would say that our historical defence spending priorities are a little bit askew. In the future, I would suggest spending on the air force and the navy, as any war against either Russia or China would be expeditionary in nature, and the navy and the air force would be more valuable.