
The UK Government will aim to spend 3% of economic output on defense by 2030, and will plot a course for the target at next year's spending review, Chancellor of the Exchequer John Healey has said. Work is underway to reach the target – and Britain's promise to NATO to spend 3.5% of GDP on defense by 2035 – in a “fiscally sustainable way”, the Chancellor said, indicating that raising defense spending further could in part come from making cuts elsewhere.

Each year UK’s Chancellor of the Exchequer makes the Budget statement to the House of Commons outlining the state of the economy and the Government's proposals for changes to taxation. The government of PM Andy Burnham has announced that the Budget will take place this week on Wednesday 28 October 2026 and delivered by Chancellor MP John Healey. The last Budget was delivered Wednesday, 26 November 2025.

Chancellor of the Exchequer John Healey in an interview with The Times, tried to cool the strong exchange caused by British leaders’ reaction to White House statements on a possible review to US neutrality policy towards the Falkland Islands sovereignty, which could imply serious consequences.

By MOHAMED A. EL-ERIAN (*)
By appointing John Healey as chancellor of the exchequer, British Prime Minister Andy Burnham has taken a calculated risk. If Healey can leverage his insider knowledge of the Treasury, pursue a bold, pro-growth agenda, and manage his defense-spending instincts, he may be able to provide the structural shake-up the UK economy needs.

Former British Defence Secretary John Healey, who resigned under Sir Keir Starmer in a row over military funding, is now in charge at the Treasury. Prime Minister Andy Burnham appointed him as Chancellor in a surprise move as he named his new top team.

UK Former Defense Secretary John Healey has said his surprise resignation last week was necessary in securing the future of Britain's Armed Forces. Now a backbench Labour MP, Healey told the House of Commons: ”I took the decision to resign with the very greatest regret and reluctance, but I continue to be certain about this decision.”

UK and Türkiye have signed a multi-billion-pound training and support contract, marking the next phase of the landmark Typhoon deal agreed in October 2025. UK-built fighter jets for Türkiye will be supported under a major new training and support contract signed this week.

The UK Defense Secretary John Healey has confirmed autonomous mine-hunting systems are in the Middle East, as he visited the Permanent Joint Armed Forces Headquarters at Northwood. Meanwhile the Daily Mail from London reported over the weekend that a British nuclear sub, HMS Anson is positioned in northern Arabian Sea in clear range of Iranian targets.

The Royal Navy's rules of engagement have been changed in response to the Russian intelligence-gathering ship Yantar directing lasers at RAF pilots. According to Forces.news UK Defense Secretary John Healey said the vessel was currently positioned on the edge of British territorial waters and was being closely tracked by Royal Navy warships and RAF P-8 Poseidon aircraft.

The events will pay tribute to millions across the UK and the Commonwealth who served in the Second World War, telling the stories of those who fought, the evacuated children and those who stepped into the essential roles on the Home Front.