Chancellor co-chairs a meeting with European Finance ministers at the G20 to discuss the importance of working together to boost defence spending

Chancellor of the Exchequer Rachel Reeves said: "A strong economy needs a strong national defence. It's clear we are facing a more dangerous world, and I will not hide from this reality. This is the moment for us all to step up and together with our European partners we will go further and faster on defence.

“National security will always be the first responsibility of this government and is the bedrock of economic growth. That is why the Prime Minister announced yesterday the biggest sustained increase in defence spending since the end of the Cold War.

“This is a generational moment for our continent. All of us must step up and do more on defence. That is why today I spoke to European counterparts about bolstering our collective security and defence.”