John Healey raises UK defense to 3% GDP by 2030
World
The UK just announced it's raising its defense budget to 3% of GDP by 2030.
Finance Minister John Healey presented his first annual budget as finance minister, also revealing a fresh £10 billion aid package for Ukraine, including £500 million to help with urgent military needs this winter.
Rolls-Royce £2.5bn turbine engine partnership
The government plans to invest up to £5 billion in new defense and tech projects over the next four years, hoping to strengthen homegrown industries and attract private investors.
Plus, there's a big £2.5 billion partnership with Rolls-Royce focused on developing advanced turbine engines, so expect some serious innovation coming out of the U.K.'s defense sector soon.