US EditionReeves hints at spending cuts to fund defence budget
- Chancellor Rachel Reeves warned that spending cuts will be necessary to meet Labour's commitment to boost defence spending to 2.5 per cent of GDP amid a new crisis in Europe.
- The Resolution Foundation think tank stated that an additional £12 billion in tax rises would be needed to achieve the 2.5 per cent target by 2030.
- Reeves emphasized that 'difficult choices' will be required across government departments to fund the increase from the current 2.3 per cent level.
- Reeves affirmed her commitment, saying, 'I am absolutely committed to spending 2.5 per cent of GDP on defence,' underlining the importance of strong national security.
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