Business · 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

Get the app

More briefs

BusinessEngland's free bus pass age will rise to 67 by April 2028 BusinessBritish tourist visits to Japan up 40.8% since 2019 TechnologyGoogle paying £260m to settle UK Play Store developer lawsuit BusinessSnack makers warn new UK rules could undo years of reformulation work BusinessHouseholds can fix energy bills now to save £173 BusinessEasyJet passengers stranded in Milan after flight cancellation More business stories → Browse all stories →