Two former Tory defence secretaries have backed using defence bonds to raise the funds needed to boost spending for the UK’s military and security, which The Independent understands is under consideration by new chancellor John Healey.
A senior source who worked with Mr Healey to try to raise extra money for defence before he quit Sir Keir Starmer’s government has said the chancellor is considering a bid to join a new Canada-led global banking scheme, which would allow it to find cheaper ways to finance defence projects.
