Reeves to unveil £2.2bn funding boost to defence in Spring Forecast

Towards spending 2.5% of GDP in 2027

Chancellor Rachel Reeves is to unveil an increase in defence spending later today (26 March) in her Spring Forecast to bring about “security and national renewal”.

She is expected to reveal a "significant step" towards spending 2.5% of GDP on defence with a £2.2bn funding boost from April to help the country "move quickly in a changing world". The plans will include putting advanced weaponry in the hands of British troops, providing better homes for military families and kickstarting economic growth via the government's Plan for Change. Tough fiscal measures 'in the offing' as investors expect Reeves to cut spending in Spring Forecast During the Spring Forecast, Reeves is expected to say that since Labour's general election win, the governmen...