Taiwanese President William Lai Ching-te has announced a $40bn budget for defence spending over the next eight years, to get “closer to the vision of an unassailable Taiwan, safeguarded by innovation and technology”.

Taiwan has been ramping up defence spending over the past decade, but United States President Donald Trump’s administration has pushed the self-ruled island to further increase its defence spending as a means to deter a potential Chinese attempt to regain control over the territory.

Lai said on Wednesday that the military aimed to have a “high level” of joint combat readiness against China by 2027 – which US officials have previously cited as a possible timeline for a Chinese military operation on the island.

“The ultimate goal is to establish defence capabilities that can

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