General · 13 June 2026

UK almost joined £870m defence bank

Former Defence Secretary John Healey privately pushed for Britain to join a new international bank, aiming to boost military spending cheaply. Canada spearheaded the idea, but the Treasury resisted the UK's upfront investment of around £870m. Healey believed joining could bridge a funding gap, resigning on Wednesday over insufficient defence investment.

By BriefTea Editorial · 13 June 2026 at 13:25

Reported by BBC · How we write briefs

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