Wes Streeting supports 3% defence spending target by 2030

UK Defence Secretary Wes Streeting has expressed support for increasing defence spending to 3% of GDP by 2030, while noting the government's broader commitment to reach 3.5% by 2035 to meet NATO targets.

Streeting clarified that a formal roadmap and specific timetable for these increases will be established by the Chancellor during next year’s Spending Review. He emphasized the necessity of a credible funding plan, warning that making unfunded spending pledges could negatively impact financial markets and increase national borrowing costs.

Currently, defence spending stands at 2.3% of GDP, with expectations that it will rise to 2.7% by next year. Streeting denied allegations that the government is procrastinating on its defence obligations, stating that the timing of the spending review is a matter for the Chancellor to determine.