Deluded! Rachel Reeves brags she will make Britain 'the most attractive place in Europe to invest in defence'...as she waters down spending

Published: 23:08, 4 June 2026 | Updated: 23:20, 4 June 2026 Rachel Reeves has boasted she will make Britain 'the most attractive place in Europe to invest in defence' – as it emerges the Treasury is watering down spending. The one-year overdue Defence Investment Plan will finally be published next week after furious rows inside Labour. Ministers have fallen out over the plan with Armed Forces Minister Al Carns barred from reading drafts of the spending blueprint. The blueprint is expected to be accompanied by a Government announcement on defence spending, with £15billion or more being set aside for extra equipment purchases in the years ahead. Yet even that amount fails to cover a shortfall between what was recommended and what is currently available. That figure is understood to be £28 billion between now and 2030. The Chancellor is said to want a shallower increase in defence spending of about £10billion to £15billion. Speaking at a JP Morgan event, she said: 'This government is investing in the capabilities that our armed forces need – but we also need an industrial base that drives innovation and growth, with the right procurement rules and access to finance to make the UK the most attractive place in Europe to invest in defence and dual-use technologies.' Rachel Reeves (pictured) has boasted she will make Britain 'the most attractive place in Europe to invest in defence' The plan was supposed to be published in June last year, about the time of its partner document the Strategic Defence Review. But repeated delays have worried defence manufacturers left in the dark about what equipment the MoD wants and at what scale. Co-author of the review, General Sir Richard Barrons, warned that, if the plan is watered down, 'you've got to think through what is the impact of this on the minds of the enemy? The principal adversary, Russia. 'Because they will be thinking the UK is a soft touch.' Ben Wallace, the former Tory defence secretary, said: 'Intelligence chief after military chief has warned of the threat against the UK, yet Rachel Reeves and No 10 fail to fund what is necessary.' Launched over two years ago, the Daily Mail's Don't Leave Britain Defenceless campaign demanded much greater defence spending. Britain spends 2.6 per cent on defence – a figure Labour has pledged to increase to 2.7 per cent next year. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy.