UK Chancellor John Healey, who resigned as defence secretary in June over what he saw as inadequate ambition on military spending, will drop his 2030 target of spending 3% of GDP on defence.

Intelligence summary

UK Chancellor John Healey, who resigned as defence secretary in June over what he saw as inadequate ambition on military spending, will drop his 2030 target of spending 3% of GDP on defence. He will instead prioritise a £5bn equipment funding gap, with bigger spending increases deferred to next year’s Treasury review. The government still aims to meet NATO’s 3.5% target by 2035. Source: FT