Breaking news- £blns for defence16 May 2026 07:50
May 15 (Reuters) - British Prime Minister Keir Starmer is expected to approve an increase of 18 billion pounds ($24 billion) in defence spending as he faces a battle for political survival, The Times reported on Friday.
The government is still finalising a defence spending plan and will publish it as soon as possible, a spokesperson told Reuters.
The British government's defence investment plan will aim to deliver equipment and technology to frontline forces quickly while supporting economic growth, the spokesperson said.
Starmer is struggling to hold on to power after a tumultuous week when one of his main rivals in government quit, accusing him of a lack of vision, and others positioned themselves for potential challenges to his leadership.
Britain's governing Labour Party on Friday agreed to let Greater Manchester Mayor Andy Burnham seek a return to parliament, a step towards a possible challenge to Starmer's leadership.
Starmer is expected to approve the spending boost as soon as next week, The Times said, bringing an end to months of delays and internal rows.
It is unclear how the increase in spending will be funded. However, an unnamed source told The Times it would be "fully affordable."
Last month, finance minister Rachel Reeves said she did not favour tax hikes or higher borrowing to fund increases in defence spending, which has become a priority after Russia's full-scale invasion of Ukraine and the war in Iran.
Starmer has pledged the largest sustained increase in defence spending since the Cold War, aiming to lift it to 3% of national output in the next parliament, a move that Britain's budget watchdog has estimated would require an additional 17.3 billion pounds a year by 2029–30.
If the government ruled out raising taxes or borrowing more, it would probably have to look at cutting other areas of public spending to fund a bigger defence budget.