FT (other sources also reporting the same).
Chancellor John Healey will shelve his own target of spending 3 per cent of Britain’s GDP on defence by 2030 when he presents his first Budget in October, with tough decisions on how to fund the military pushed down the track.
The chancellor was previously adamant that Britain must increase defence spending to 3 per cent by 2030, notably to address a growing threat from Russia.
In his resignation letter to Starmer in June, the former defence secretary said: “As we have regularly discussed, I am certain that a headmark date for 3 per cent of GDP on defence in 2030 is what Britain must set.”