John Healey Delays UK Defense Spending Target Date

Chancellor of the Exchequer John Healey will delay setting a target date for the United Kingdom to allocate 3% of its GDP to defense spending. The HM Treasury confirmed that the budget scheduled for October 28 will prioritize fully funding a three-year defense investment plan rather than establishing a timeline for the 3% goal.

Healey previously advocated for reaching the 3% target by 2030 and resigned as defense secretary in June due to the government's reluctance to commit resources. Now serving as chancellor, he cites fiscal discipline as the first priority to ensure economic stability, stating that the country cannot address its problems by "maxing out the country’s credit card."

Defense spending is currently projected to reach 2.7% of GDP by 2030, supported by cuts to aid spending. A detailed pathway to meet the NATO commitment of 3.5% of GDP by 2035, as well as a specific target date for the 3% threshold, is expected to be outlined during a spending review next year.