World News
UK Chancellor John Healey delays setting target date for 3% defence spending
The Treasury confirmed the upcoming October budget will focus on funding the existing defence investment plan rather than establishing a timeline for the 3% GDP target.
The short version
- UK Chancellor John Healey will delay setting a timeline for reaching the target of spending 3% of GDP on defence until next year's spending review.
- The upcoming budget on 28 October will focus instead on fully funding the existing three-year defence investment plan, which currently has about £1.2 billion per year unaccounted for.
- A government spokesperson stated that the path to reaching NATO's 3.5% of GDP commitment by 2035, alongside a 3% target date, will be detailed at the future spending review.
Key facts
- The UK Treasury confirmed that Chancellor John Healey will not set out a target date in the 28 October budget for spending 3% of GDP on defence.[The Guardian]
- A government spokesperson announced that a plan to reach 3.5% of GDP on defence by 2035 to meet NATO commitments will be presented during next year's spending review.[The Guardian]
- The three-year defence investment plan currently lacks about £1.2 billion per year in specified funding.[The Guardian]
- UK defence spending is currently projected to reach 2.7% of GDP by 2030, supported in part by cuts to aid spending.[The Guardian]
- Healey previously resigned as defence secretary in June under former Prime Minister Keir Starmer after arguing for a firm 2030 target date for the 3% GDP spending goal.[The Guardian]
What remains uncertain
- The exact date for next year's government spending review has not yet been set.[The Guardian]
Sources
- John Healey to duck meeting UK defence spending target in budgetThe Guardian - World