UK defense spending: 3% of GDP by 2030, Chancellor says

The UK Government will aim to spend 3% of GDP on defense by 2030, Chancellor of the Exchequer John Healey said. The government will set out the path to this target at next year's spending review. Healey said work is underway to meet the 3% goal and Britain's NATO promise to spend 3.5% of GDP on defense by 2035 in a "fiscally sustainable way." He indicated that higher defense spending could partly come from cuts elsewhere.