LONDON (Reuters) – Britain will increase defence spending by more than 1 billion pounds ($1.21 billion) to avoid a real-terms cut over the next two years, the Telegraph newspaper reported on Saturday. Finance minister Jeremy Hunt is expected to announce the increase in his budget in the spring, it said. The newspaper said military experts estimate that the Ministry of Defence budget in 2024/25 must rise to 50.1 billion pounds from 48.6 billion to avoid a real-terms cut as inflation remains above 10%. Hunt, in his autumn budget last month, said the government recognised the need to increase def…