AssetID: 56114014
Headline: UNCAPTIONED: Healey Orders 1% Departmental Cuts To Fund Defence Spending
Caption: Healey Orders 1% Departmental Cuts To Fund Defence Spending. Chancellor John Healey has ordered every government department to find 1% cuts to capital budgets to help fund increased defence spending. The reductions are intended to fill a £4.7 billion gap in the £15 billion Defence Investment Plan. They come on top of 1% cuts requested earlier this year to fund the first £10.3 billion of the programme. Healey is also under pressure to explain how the government will raise defence spending to 3% of national income by 2030 and 3.5% by 2035. He told MPs that meeting the target would require "looking hard at public spending", with further details expected at next year's spending review. Conservative leader Kemi Badenoch criticised the plans, accusing Healey of offering "a plan to have a plan”. Departments have yet to determine which long-term investment projects will be affected by the latest cuts. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,John Healey,Chancellor,orders,1%,departmental cuts,fund,defence spending,£4.7 billion gap,Defence Investment Plan,UK,Government,programme,reductions,departments,affected,unknown
PersonInImage: