PM Andy Burnham vows Chancellor John Healey's Budget will set out a path to 3% defence spending by 2030
John Healey, who resigned as Chancellor in June demanding Britain reach 3% of GDP on defence by 2030, now says the timetable will wait for next year's spending review.
Hitting 3% will need an extra £17.3 billion in 2029-30, the Office for Budget Responsibility estimates. Prime Minister Andy Burnham told ITV's Good Morning Britain that national security is "at the top of the priority list". Chancellor John Healey is expected to borrow billions through the National Wealth Fund and British Business Bank. He will unveil the plan on Wednesday.
Shadow Chancellor Andrew Griffith: Healey must fully fund 3% "or resign".
Rolls-Royce, Babcock and BAE shares rose on the reported borrowing plan.
A More in Common poll found 76% of Reform voters back cutting benefits to fund defence.
