Defence spending

This afternoon, Rachel Reeves made good on her promise to deliver only one fiscal set piece per calendar year by announcing what is widely being considered a Budget… this precedes a spending review in the summer and an actual Budget in the autumn. The headline is that the Chancellor had to find £15 billion in spending cuts to restore her headroom and keep within her own ‘ironclad’ fiscal rules. This comes after the Office for Budget Responsibility (OBR) confirmed that the £9.9 billion margin she left herself in the autumn has disappeared. The OBR has also halved its growth projections – bleak news for the government. Among the announcements: further

It’s a big day in defence. Keir Starmer began the day in Barrow talking about nuclear subs and will end the day in a meeting of the ‘coalition of the willing’ on the outskirts of London. But that coalition seems like it could be undermined by the European Commission’s decision to exclude non-EU arms makers from the bloc’s new €150 billion defence fund. Officials are keen to stress that this is not a done deal yet, but this would be a massive blow for the UK (and the US) and a big win for France. With Europe rearming, who stands to benefit? And what should we expect from the meeting

The Spectator’s Katy Balls, Michael Gove and Kate Andrews were joined by special guests Robert Jenrick and Jonathan Ashworth for a live podcast, recorded at the Emmanuel Centre in Westminster. The main topic of discussion was, of course, Donald Trump, whose inauguration has ushered in a new world disorder. His ‘shock and awe’ foreign policy has sent Europe scrambling as it tries to work out who will be responsible for ensuring its security in the future. We have seen a move away from the idealism that has defined foreign policy in the last decade and towards ‘realism’, with countries committing to boots on the ground and greater defence spending. Are

Kemi Badenoch has today given a major speech outlining the Conservatives’ commitment to ‘realism’ in their foreign policy. She said, ‘You cannot help others if you cannot help yourself’, and that the sovereignty and strength of Britain matters ‘above all’. She also pressed Keir Starmer to push defence spending north of the 2.5 per cent target and – as if it was all choreographed – the prime minister dutifully has, announcing in the Commons that defence spending will reach 3 per cent of GDP by the end of the next parliament. This will come at the expense of the foreign aid budget, another suggestion that the leader of the opposition