UK brings forward defense spending target, pledging billions to Ukraine

The U.K. has set out a target date for defense spending to rise to 3% of GDP, as the finance minister announced billions in aid for Ukraine in a "clear message to Moscow". John Healey on Wednesday set a target date of 2030 for the 3% figure, while reaffirming its NATO commitment to reach 3.5% by 2035. Healey, who resigned as defense minister under the previous government over insufficient spending, presented his first annual budget as finance minister and highlighted a "new era of threat".