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Evening Standard
Evening Standard
Business
Helen Corbett

UK will not ‘pull up drawbridge’ to foreign firms to spend defence cash – Reeves

United Kingdom Rachel Reeves
The Chancellor was speaking at a manufacturing industry conference in London (Jordan Pettitt/PA) - (PA Wire)

Chancellor Rachel Reeves has said she wants to use the recently announced boost to defence spending to support UK businesses but will not “pull up the drawbridge” to foreign manufacturers.

Prime Minister Sir Keir Starmer has pledged to increase defence spending to 2.5% of the size of the economy from April 2027, something the Chancellor believes will help create jobs and drive growth in the UK.

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