"Counter-terrorism police funding will also increase by around £50 million ($67 million) to £757 million, a rise of 7%. This is in recognition of the changing threat from terrorism and to ensure counter-terrorism policing has the resources needed to respond and keep the public safe," the statement read.
According to the statement, the budgets of regional police units will increase by 270 million pounds ($360 million).
"At a national level, £130 ($173 million) million extra will be provided for priorities such as special grants to help forces meet unexpected costs, for example, the £9.8 million given to Greater Manchester Police after the Manchester Arena attack, and national technology programmes designed to deliver greater productivity and mobile working," the statement added.
The United Kingdom has faced a number of terror attacks in 2017, most notably three attacks in London, which took place in Westminster, on London Bridge and outside the Parsons Green Tube station, and a bombing at a concert in Manchester on May 22, the latter of which claimed the lives of over 20 people and left several hundreds wounded.
Following the attacks, the issue of police budgets cuts has become increasingly pressing in the UK. According to media reports, around 20,000 policemen have lost their jobs since the Conservatives party came to power in 2010, while police budgets were slashed by approximately 4 percent annually during UK Prime Minister Theresa May's work as a home secretary between 2010-2016.