war bonds

Dan Jarvis is expected to be removed as defense secretary when Andy Burnham selects his Cabinet, with Wes Streeting discussed as a potential replacement. Jarvis, who served six weeks, oversaw the Defence Investment Plan but faces criticism over its reliance on future savings. Streeting, previously linked to foreign secretary, has advocated for defense spending reforms but lacks military or foreign policy experience.

Ukraine's Asset Recovery and Management Agency (ARMA) has transferred over $8.3 million in cryptocurrency to its official wallet via court order. The funds, seized from a cybercrime group, will be used to purchase war bonds.

Andy Burnham, Britain’s soon-to-be prime minister, proposes war bonds to fund the UK military, a concept previously dismissed by outgoing Prime Minister Keir Starmer. The idea, supported by Burnham’s adviser Andy Haldane and the Liberal Democrats, aims to attract public savings through patriotic appeal and tax incentives, with potential to raise £20 billion for defense.

Andy Burnham's rise in prominence has revived discussions about issuing war bonds to fund the UK military. The article features a photograph by Mary Turner/Bloomberg.

Reeves may accept a junior cabinet role if Burnham offers it, though she has not confirmed. Senior officials plan to lobby Burnham to revive 'war bonds' for defense spending, despite Treasury opposition. Reeves emphasizes fiscal rules allowing flexibility for capital investments, including defense, and highlights NATO cooperation for cost efficiency.