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Wes Streeting on Defence Spending

Financial Times Companies •
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Britain's new defence secretary, Wes Streeting, has declined to commit to increasing military spending to 3 per cent of national income by 2030, emphasizing that budget decisions lie with the chancellor. He reiterated the UK's commitment to reach 3.5 per cent by 2035, in line with NATO targets.

Streeting stated he does not want the defence sector to operate "on the cheap" and will advocate for greater investment, while acknowledging the chancellor's position. He highlighted an early priority to assess UK participation in the Defence, Security and Resilience Bank financing scheme. Streeting also introduced the Brontanax, a British fighter drone developed by BAE Systems, expected to fly in 2027 and potentially enter service by 2030, calling it a "groundbreaking moment" for UK defence and re-industrialisation.

Additionally, Streeting commented on Israel's military conduct in Gaza, stating the country has "fallen short" of British military standards, despite supporting its right to self-defence. He asserted that allies should be held to the same standards as the UK. Decisions on purchasing Israeli weapons, he noted, are not his alone.