The Commons Defence
Committee, which examines the spending and policy of the defence ministry, said
nuclear capacity, tanks, warships and aircraft were needed to deter Russian
President Vladimir Putin.
"The world is
more dangerous and unstable than at any time since the end of the Cold
War," the report said, referring to Russia 's
annexation of Crimea and seizure of territory
by Islamic State and Boko Haram militants.
"But the UK 's current
defence assumptions are not sufficient for this changed environment... The UK must rebuild
its conventional capacities eroded since the Cold War."
The report comes as
a truce between pro-Russian rebels and Ukrainian forces was tested in east Ukraine , in a conflict that has damaged
relations between Russia
and the West and has claimed 6,000 lives since April.
The committee said
it would be necessary for Britain
to stick to its NATO commitment to spend two percent of GDP on defence, but
that this would "not be sufficient".
"It is vital
to rethink the fundamental assumptions of our defence planning, if we are to
help arrest the descent into chaos, which threatens to spread from the Western
Mediterranean to the Black Sea ," the
report said.
It pointed out
weaknesses in NATO's defence, saying that Russia could deploy 150,000 troops
in 72 hours, while it would take NATO six months to do so.
NATO's newly announced "very high readiness joint
taskforce" could deploy 5,000 troops in 48 hours, but would not be ready
until 2016, the report said.
The report said it
was difficult to mobilise "critical mass" in the air as Britain 's Royal
Air Force had been cut to seven squadrons from 33, while the Royal Navy's
frigates and destroyers fleet had more than halved since 1990.
However, Defence
Secretary Michael Fallon dismissed the report, saying the Conservative-led
government of David Cameron had plugged a "black hole" in the defence
budget.
"The UK has the
second largest defence budget in NATO and the largest in the EU," Fallon
said.
"We are the US 's largest partner in the coalition air effort
against Isil (Islamic State) - bearing more of the load in terms of strikes in Iraq than we
played in either of the Gulf wars."
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