Wes Streeting backs defence spending target of three percent by 2030

British Defence Secretary Wes Streeting stated on 11 October 2026 that he wants United Kingdom defence spending to reach three percent of gross domestic product by 2030. The Daily Mail reported that Streeting acknowledged the target during a BBC interview, while confirming that Chancellor John Healey will not commit to that date for another year. [1][3][4]

According to the Daily Mail, Streeting argued that having Healey commit to the target right now could cause panic on international financial markets. Streeting explained that the Chancellor must instead wait for a Spending Review, which is not expected until late 2027. [1]

Streeting has served as Secretary of State for Defence since 2026, having previously held the role of Secretary of State for Health and Social Care. Healey became Chancellor of the Exchequer under Prime Minister Andy Burnham on 20 July 2026, after previously serving as Secretary of State for Defence. [3][4][8]

As FTMQ News reported earlier, Healey is also facing calls from business leaders to cut taxes ahead of the upcoming Budget, while considering more than one billion pounds to support poorer households with rising energy bills. [7][8]