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Military chiefs are threatening to quit over the Government’s failure to commit to a key defence ​spending target, it emerged today.

A major-general raised the prospect of a “protest resignation” that could deeply embarrass David Cameron in the run-up to May’s General Election.

It comes as the US ambassador to Nato urged Britain to continue spending at least two per cent of national income on defence.

And alliance chief Jens Stoltenberg piled pressure on the PM by saying he “expected” the UK to meet the alliance benchmark.

At least four senior generals are considering resigning because they cannot face leading the Army through fresh cuts, it was reported yesterday.

Low morale is gripping top brass and middle-ranking officers , who are in “disbelief” that ministers are failing to rule out again swinging the axe at the armed forces’ budget.

An unnamed major-general told the Sunday Times: “Many of us are thinking it’s time to leave, get out now while you are still young enough to forge another career.

“It’s the only thing people are talking about. There is a lot of talk about protest resignations and given the anger and resentment at a very senior level, I would personally expect some sort of reaction.”

He feared the military would get “hammered” in the next defence review, due later this year.

“I’ve fought in three wars, watched men die in battle fighting for their regiment and their country, and now we are in this sorry state. It’s pretty shameful,” he said.

“You can’t overestimate the antipathy towards the government over the treatment of the armed forces.

"There is total disbelief that the armed forces face even more cuts despite the threat from Russia, Isis and the problems in Libya.”

Another major-general said: “Politicians treat the armed forces like a monkey treats a watch. They play around with it until they break it.”

Mr Cameron has faced accusations of hypocrisy after he pushed other Nato members to commit to defence spending when the UK hosted September’s alliance summit in Newport.

Secretary General Mr Stoltenberg told the BBC: “The UK was instrumental in establishing this defence investment pledge we made last fall and I expect all allies to implement and this is an important issue in all the meetings I have around all the capitals of Nato allies.

“The UK is a staunch ally in the alliance and second to the US no other allies spend more on defence. We all made a commitment last fall when we decided to increase investments in defence and I expect all allies to keep that pledge.”

He highlighted resurgent Russian aggression in eastern Ukraine and the threat from Islamic State extremists.

“All this just underlines how important it is that we all invest in defence and I continue to look for UK leadership,” he added.

Meanwhile, America’s Nato ambassador Douglas Lute warned the UK would lose influence if he missed the two per cent target.

“What’s going to be challenged, if there were a significant drop in capability, would be the UK’s standing inside the [Nato] alliance and a questioning of whether the UK could still serve as a framework nation,” he said.

“That’s obviously important to the alliance, but it’s very important to the United States as well.”

Shadow Chancellor Ed Balls said Labour would “not have defence cuts as deep as the Tories”.

He promised commanders: “We will back you all the way and continue to invest.”