The Government's spending on the Defence Forces is set to increase to €1.5 billion a year by 2028.

According to the Sunday Independent, Minister for Defence Simon Coveney will bring a memo to cabinet this week outlining what will be the biggest military investment in the history of the state. The increase would represent a 50 per cent rise in overall annual defence spending, according to the report.

The Minister is set to act on a recent report from the Commission on the Defence Forces, which recommended a major increase in defence spending.

Mr Coveney is also set to propose a rise in the military service allowance for newer recruits of the Forces who have less than three years of service.