John Healey in talks with Canada about UK joining new global defence bank

John Healey is currently in discussions with the Canadian government regarding the UK becoming a founding member of the Canada-led Defence, Security and Resilience Bank (DSRB). This multilateral lender aims to provide low-cost financing for military initiatives, helping allies rearm against increasing security threats. Although Rachel Reeves previously rejected the move, the chancellor is now actively considering a bid to join the DSRB to fund defence projects more affordably before upcoming talks with Canadian officials.