28th Oct 2026 13:36
(Alliance News) - UK Chancellor of the Exchequer John Healey on Wednesday pledged to reach targets for defence spending and that welfare bills will be cut "in a Labour way".
Healey said UK defence spending will reach 3% of gross domestic product by 2030.
To support this, a defence review task force will be launched ahead of the spring spending review.
In addition, Healey said he will look at more innovative ways to fund spending, including greater use of public-private partnerships.
He said the UK will also commit GBP10 billion of additional economic and military support to Ukraine and half a billion in urgent military funding this winter.
He said the previous Conservative government left a "broken" welfare system" which "we are fixing". He pledged to bring down the welfare bill "in a Labour way".
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.