UK to increase defence spending to 2.6% of GDP by 2027 as billions pledged

Military, housing and health getting a boost

UK Chancellor Rachel Reeves has pledged to invest billions into Britain’s military, health and social security as part of the government's Spending Review.

Addressing the House of Commons today (11 June), Reeves said defence spending is now set to rise to 2.6% of GDP by 2027, which will be funded by a cut in overseas aid budget. OECD tells Reeves that efforts to cement her 'thin' fiscal buffers should be 'stepped up' The boost in defence spending will provide the Ministry of Defence with a £11bn increase in military spending and a "£600m uplift for our security and intelligence agencies". The Labour government's Spending Review comes as Prime Minister Keir Starmer has already embarked on bolstering the country's defence capabilit...