Key facts
- UK budget fully funds Defence Investment Plan through capital reprioritization.
- £4.7 billion gap in Defence Investment Plan to be filled by reprioritization.
- UK aims for 3% of GDP defense spending by 2030 and 3.5% by 2035.
- £300 million investment in Collaborative Combat Air programme, StormFighter.
- £5 billion investment in advanced uncrewed systems over the Parliament.
- £400 million for Army drone technology and defense manufacturing.
UK Chancellor John Healey unveiled a budget on Wednesday that prioritizes defense investment, aiming to fill a £4.7 billion gap through reprioritization across government departments. The plan includes significant funding for new military programs and aims to meet NATO's defense spending targets. Healey emphasized the need to strengthen the UK's armed forces, alliances, and defense industrial base in response to global security challenges. The budget also signals a greater reliance on private and international finance for defense procurement and development.