Politics · 1 hour ago
Budget Fully Funds £15bn Defence Plan but Delays 3% Details
Ministry of Defence, OGL v1.0, via Wikimedia Commons
Chancellor John Healey said his Budget fully funds the £15bn Defence Investment Plan, finding the missing £4.7bn by cutting other departments' building budgets. Defence spending will reach 2.7% of GDP in 2027-28, but how the UK will hit 3% by 2030 and 3.5% by 2035 has been pushed to next year's spending review. State-backed funds will invest up to £5bn in defence and security firms.
Reported by GOV.UK · How we write briefs