Story perspectives

John Healey Becomes Chancellor, Must Hit 3% Defence Spending

By Drooid · Oct 21, 2026, 12:29 AM UTC · How we work

Summary

Story summary

Andy Burnham appointed John Healey as chancellor of the exchequer.
Healey resigned as defence secretary in June 2026, criticizing the defence plan and Treasury.
As chancellor, Healey must raise defence spending to 3% of national income while cutting borrowing costs.
Healey pledged fiscal discipline, welfare bill cuts, and backing for Burnham's reindustrialise Britain plan.

1 of 1

Story summary

Andy Burnham appointed John Healey as chancellor of the exchequer.
Healey resigned as defence secretary in June 2026, criticizing the defence plan and Treasury.
As chancellor, Healey must raise defence spending to 3% of national income while cutting borrowing costs.
Healey pledged fiscal discipline, welfare bill cuts, and backing for Burnham's reindustrialise Britain plan.