• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsU.K.
Europe

U.K. vows to fast-track military purchases to help secure Europe amid Ukraine fallout

By
AFP
AFP
Down Arrow Button Icon
By
AFP
AFP
Down Arrow Button Icon
March 5, 2025, 6:53 AM ET
Chancellor Rachel Reeves is working to speed up U.K. defense spending.
Chancellor Rachel Reeves is working to speed up U.K. defense spending.Yui Mok-WPA Pool/Getty Images

The UK government Tuesday vowed to cut red tape to speed up military purchases, as London and the European Union ramp up defence spending amid uncertainty over Ukraine’s future.

Recommended Video

“We need to step up to the challenge of securing our own country, but also securing Europe as well,” Finance Minister Rachel Reeves said in a speech to manufacturers gathered in London.

The government has promised a review of defence contract rules “to incentivise faster delivery” of equipment from ships to munitions, drawing lessons from Britain’s rapid arms mobilisation for Ukraine during its three-year war with Russia.

“The US has supported Ukraine more than any other country in the world. It is important now that Europe steps up,” Reeves added, in light of Washington suspending aid to Ukraine.

It comes after British Prime Minister Keir Starmer last week pledged to boost UK defence spending to 2.5 percent of the nation’s economy by 2027 — which the Labour government sees as helping also to grow stagnant gross domestic product.

European chief Ursula von der Leyen meanwhile on Tuesday presented a five-part plan to mobilise some 800 billion euros ($833 billion) for Europe’s defence — and help provide “immediate” military support for Ukraine.

While the UK is no longer a member of the European Union, Starmer is making diplomatic efforts to bridge differences between Europe and the US over Russia’s war in Ukraine.

The UK, home to defence giant BAE Systems and Rolls-Royce — which makes engines for military planes and submarines — added Tuesday that it plans to ensure small and medium-sized enterprises have better access to supply chains across the defence sector.

Trade organisation ADS, representing 1,300 SMEs, described the announcement as “hugely welcome”, telling AFP also that such companies “are a vital part of the UK’s defence sector”.

Reeves also said Tuesday that “there’s every reason to be hopeful about coming to some sort of trade deal” between the UK and the US.

“But it shouldn’t be about choosing between the US and our nearest neighbours and trading partners in Europe,” she added.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
By AFP
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Politics

Trump at a podium
PoliticsIran
Trump will address the nation on Wednesday on the Iran war Wednesday—here’s what to expect
By Eva RoytburgApril 1, 2026
1 hour ago
Luigi Mangione’s federal trial has been pushed back to October in killing of UnitedHealthcare CEO
LawMurder
Luigi Mangione’s federal trial has been pushed back to October in killing of UnitedHealthcare CEO
By The Associated Press, Michael R. Sisak and Larry NeumeisterApril 1, 2026
4 hours ago
trump
CommentaryEPA
The EPA just valued a human life at $0. That’s not just a moral crisis — it’s a market crisis
By Andrew BeharApril 1, 2026
9 hours ago
pelosi
CommentaryElections
Congress has a lower approval rating than Hitler in some polls. And we just keep voting for the same 2 parties
By Stu StrumwasserApril 1, 2026
12 hours ago
Photo: Donald and Melania Trump.
PoliticsMarkets
Trump has no good options in Iran—here are 5 of them ahead of his speech to the nation tonight
By Jim EdwardsApril 1, 2026
12 hours ago
MUSCAT, OMAN - MARCH 22: The Albina Bulk carrier sits anchored on March 22, 2026 at Sultan Qaboos Port in Muscat, Oman.President Donald Trump had threatened to attack Iran's energy infrastructure if it did not end its de facto blockade of the Strait of Hormuz by just before midnight GMT of March 23. A subsequent statement from President Trump said the U.S. and Iran had held "very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," and that he would postpone any attacks on Iranian energy infrastructure for five days. Maritime traffic through the strait, which conveys about 20% of the world's oil and gas, has mostly come to a halt after the joint U.S.-Israeli war with Iran that began on February 28.
EnergyIran
Trump has a labyrinth of bad options in the Strait of Hormuz. Here’s why some warn that walking away could transcend ‘our defeat in Vietnam’
By Jordan BlumMarch 31, 2026
24 hours ago

Most Popular

Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
Economy
Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
By Fortune EditorsMarch 30, 2026
2 days ago
Two-thirds of parents say their adult Gen Z kids still rely on them financially  for support—even though it's putting them under strain
Success
Two-thirds of parents say their adult Gen Z kids still rely on them financially  for support—even though it's putting them under strain
By Fortune EditorsMarch 31, 2026
1 day ago
Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire
Personal Finance
Kevin O'Leary says if you earn $68,000 a year and follow this rule, you'll retire a millionaire
By Fortune EditorsMarch 31, 2026
1 day ago
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
AI
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
By Fortune EditorsMarch 30, 2026
2 days ago
Hiring just hit a level not seen since the economy was ‘closed down literally’ during COVID, top economist says
Economy
Hiring just hit a level not seen since the economy was ‘closed down literally’ during COVID, top economist says
By Fortune EditorsMarch 31, 2026
1 day ago
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
Energy
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
By Fortune EditorsMarch 31, 2026
1 day ago