On 30 June 2026 the Defence Secretary presented a four‑year Defence Investment Plan (DIP) that allocates £298 billion. The plan adds £15 billion to last year’s settlement, mainly for training and equipment availability, and represents a real‑terms 27 % rise in defence spending between 2023/24 and 2029/30. The 2026/27 annual allocation of £74 billion is £20 billion higher than the previous government’s final year. The DIP introduces a £50 billion export facility, £5 billion for drone and autonomous systems, £8.6 billion for a joint combat air programme, £26 billion for naval base upgrades and £64 billion for nuclear and submarine work. It also earmarks £9 billion for housing, commits 60,000 jobs and pledges to meet NATO’s 3 % defence‑spending target.
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