Reeves to tout benefits of UK's increased defence spending at G20 South Africa summit

Finance minister meeting

Chancellor Rachel Reeves is expected to make the case for increased UK military spending at the G20 finance ministers and central bank governors meeting today (26 February) in South Africa.

According to the Treasury, Reeves is expected to declare that a strong defence sector forms the "bedrock of economic growth", as well as argue in favour of "free and fair trade – the most reliable driver of global growth". "National security will always be the first responsibility of this government and is the bedrock economic growth," Reeves will say, after Prime Minister Keir Starmer pledged to increase UK defence spending to 2.5% of GDP by 2027 the day before (25 February). Expectations for European defence spend surge as US-Russia 'peace' talks for Ukraine begin At the meeting,...