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Evening Standard
Evening Standard
Politics
Nick Lester

Reeves should bend fiscal rules and borrow to fund defence, says Labour grandee

United Nations Peter Hain Donald Trump European Union Adolf Hitler Britain Europe Sir Keir Starmer Labour Government
Lord Hain told Parliament the arrival of Donald Trump in the White House had ‘transformed everything’ (Stefan Rousseau/PA) - (PA Archive)

Increased defence spending should be funded from extra borrowing, a Labour former Cabinet minister has said, as he urged the Chancellor to “break free from Treasury orthodoxy”.

Peter Hain argued the need for Rachel Reeves to bend her fiscal rules, given the “exceptional, and exceptionally dangerous, times” now faced by the UK.

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