Politics · 23 July 2026
Healey reconsiders defence bonds plan rejected by Reeves
Richard Townshend via Wikimedia Commons (CC-BY-3.0)
New Chancellor John Healey is reportedly reconsidering the UK joining a Canada-led Global Defence Bank to help fund military spending. Former Chancellor Rachel Reeves previously rejected the plan due to concerns about breaching borrowing rules. Two former Conservative defence secretaries, Sir Gavin Williamson and Sir Malcolm Rifkind, conditionally back the proposal.
Reported by Independent · How we write briefs