Should the UK join the Defence, Security and Resilience Bank to fund defence spending?

Former defence secretary John Healey privately advocated UK membership of the Defence, Security and Resilience Bank, a Canadian-led initiative offering low-cost lending and credit guarantees for defence projects. The Treasury reportedly resisted the move and Chancellor Rachel Reeves has signalled opposition to extra borrowing for defence. Some Whitehall officials worry the model would mainly benefit smaller economies with weaker credit ratings.