Italy's Finance Minister Giancarlo Giorgetti announced plans to use EU fiscal flexibility to boost green energy and defense spending over three years, aiming to request exemptions from EU deficit targets by mid-August.
North Korean leader's sister Kim Yo Jong accused Japan of transforming into a 'war state' amid increased military spending, defense drills, and Tomahawk missile tests.
US House Republicans narrowly passed a $1.15 trillion military spending package (2027 NDAA) 216-212, despite Democratic concerns over its cost and expanded military technology collaboration with Israel, and its connection to the "unpopular war on Iran."
John Healey, now Chancellor, faces pressure to deliver on his previous demands for increased UK defense funding, having resigned as Defence Secretary over the Treasury's "unwillingness" to properly fund the military's modernization plans.
The EU will use a €4.6 billion Google antitrust fine to alleviate budget pressure, funding increased military spending and aid for Ukraine. The payment follows a court ruling upholding the 2018 fine for Android market abuse, but critics like Hungary and Slovakia question the allocation amid social spending cuts.
NATO leaders are in Ankara for their annual summit, aiming to project unity despite ongoing disputes over defense spending, the Russia-Ukraine conflict, and Iran tensions. US President Trump criticized allies for military burden-sharing and Iran stance.
Hungarian Prime Minister Peter Magyar announced at the NATO summit in Ankara that his government plans to increase the country's military expenditure to 5% of GDP by 2035, aligning with NATO goals. He emphasized Hungary's commitment to being a reliable ally.
Former Defence Secretary John Healey criticized the Treasury for refusing to increase defence spending, viewing it as a drain rather than a growth engine. His resignation followed a dispute over the UK's commitment to Nato's 3% GDP defence spending target by 2030, which the Treasury plans to meet much later.
The UK's Defence Investment Plan (DIP) boosts military spending by £15bn over four years. Funding challenges have led to talk of a £5bn "defence black hole", with an annual shortfall of around £1.2bn needing to be addressed in the next Budget.
The UK announced an extra £15 billion ($19.9 billion) in defense spending over four years, boosting stocks like BAE Systems. Analysts warn that the country's fiscal woes and elevated public debt could limit long-term investment despite the short-term market rally.
The UK government announced a £15bn increase in military spending, which includes £360m for a new British Jet Trainer System. This system will provide new jets for the Red Arrows, replacing their current Hawk aircraft, which have been in service since the 1980s.
Keir Starmer announced a £15bn defence investment plan, increasing spending to 2.7% of GDP by 2030, funded by diverting money from energy, transport, and housing projects. He warned his successor, likely Andy Burnham, against borrowing more for defence, despite calls for higher spending from former Defence Secretary John Healey and military chiefs.
Physicist Carlo Rovelli, author of "85 Seconds to Midnight," argues against rearmament in Europe, calling the idea of Russia threatening Europe "ridiculous." He cites mutual fear as the core problem, not Russian aggression, and criticizes Western European governments for promoting war.
Senior UK government officials are planning to propose 'war bonds' to fund increased defence spending to incoming Prime Minister Andy Burnham. The idea, previously blocked by the Treasury, aims to raise funds beyond the £13.5bn Defence Investment Plan, with military leaders pushing for greater investment to counter Russia.
Japan's Defense Minister Koizumi questioned the transparency and accuracy of China's official military spending figures in a recent interview, suggesting a lack of parliamentary scrutiny and public explanation.
Japan's Defense Minister Koizumi questioned the transparency and accuracy of China's official military spending figures in a recent interview, suggesting a lack of parliamentary scrutiny compared to Japan's budget process.
The Pentagon has informed senators of a need for approximately $80 billion, primarily to fund the U.S. war against Iran. This request adds to President Trump's proposed significant military spending increase, facing potential opposition from lawmakers concerned about the war's justification and domestic costs.
Stephen Feinberg, deputy undersecretary of defense, wields significant power in Trump's Pentagon, overshadowing Defense Secretary Pete Hegseth. Feinberg, founder of Cerberus Capital Management, has unprecedented control over procurement and invests taxpayer dollars in defense companies, raising conflict of interest concerns.
UK's Keir Starmer indicated no new funds for the armed forces, despite a defense secretary's resignation over inadequate settlement. Decisions like cutting overseas aid and seeking departmental cuts were made to fund the Defence Investment Plan, with the new defense secretary reviewing spending priorities.
The UK faces a "guns vs. butter" debate, balancing welfare and military spending amid rising global tensions and a perceived unreliable US. Critics highlight defense overspending and delays, while questioning the narrative of escalating welfare costs.
The UK faces a "guns vs. butter" debate, balancing welfare and military spending amid rising global tensions and a perceived unreliable US. Critics highlight defense overspending and delays, while questioning the narrative of soaring welfare costs, particularly concerning pensions.
UK Defence Secretary John Healey resigned over a delayed Defense Investment Plan, citing a mismatch between national defense ambitions and allocated spending. The plan falls short of NATO targets, causing concern among allies and the defense industry.
UK Defence Secretary John Healey resigned over military spending disagreements, accusing PM Keir Starmer of risking national security. Starmer admits he must "turn things around" after poor election results, while the US expresses concern over UK defence contributions.
Defence Secretary John Healey has resigned citing the government's military spending plans, which he believes fall short of national security needs and could make Britain less safe. This resignation is seen as a significant setback for Keir Starmer.
