UK eyes joining multinational defence fund to boost spending amid Treasury pushback
TL;DR
Former defence secretary John Healey privately urged the UK to join the Defence, Security and Resilience Bank (DSRB) to fund higher defence spending; the Treasury, including the chancellor, was reportedly reluctant, exploring alternatives such as a Multi-Lateral Defence Mechanism and talks with Poland. The DSRB—led by Canada and set to launch at a Nato summit—would require roughly £870m upfront from member countries. Canadian PM Mark Carney has been pushing the idea, while ministers have been mulling it for months with the chancellor reportedly unwilling to pay.
Topics:worldpolitics#defence#dsrb#multilateral-financing#nato#note-ensure-five-tags-only#politics#uk-politics
- John Healey wanted UK to join global investment bank to raise defence funds BBC
- Martin Rowson on the resignation of John Healey – cartoon The Guardian
- Two top UK defense officials resign over military spending in fresh blow to Keir Starmer CNN
- UK Defense Secretary’s Ugly Exit Shatters Starmer’s Legacy Bloomberg.com
- Top US ally's defense chief quits, warns military lacks resources for rising threats Fox News
Want the full story? Read the original reporting
Read on BBC