The Chancellor has announced a new package of over £10bn in economic and military support for Ukraine. It includes £7 billion of economic support over three years and additional military support for air defences this winter.
Illustrative image · Source: HM Treasury · UK Announces Over £10bn Support Package for Ukraine · Rights unverified · Reencoded as WebP with metadata removed. Display may be resized or cropped.
HM Treasury said the Chancellor announced that the UK is making available over £10 billion of additional financial support to Ukraine. It said the package underlines the UK’s position as a leading partner amidst illegal Russian attacks.
As part of the package, the UK is making available £7 billion of economic support over three years, including up to £5.5 billion of World Bank guarantees and a £0.5 billion grant contribution to the World Bank International Development Association’s crisis facility, mobilising £1.5 billion of support for Ukraine.
The package also includes £0.5 billion in additional military support for Ukraine’s air defences this winter. Together with £750 million already committed from the UK’s Extraordinary Revenue Acceleration loan to Ukraine, this takes UK military support provided this year to Ukraine to £4.3 billion.
The package also includes a £3 billion increase in UK Export Finance capacity for Ukraine, prioritised for military support, bringing total UKEF cover to £6.5 billion.
Including today’s announcement, the UK has committed a total of £35 billion for Ukraine: £16 billion in military support, up to £12.6 billion in non-military support, and a £6.5 billion cover limit for export finance support.
Original publication:
Contains public sector information licensed under the Open Government Licence v3.0. · Open Government Licence v3.0 · Adapted summary by Softfornews.
The US economy grew at a 3.4% annualized rate in the third quarter, above the 3.2% pace economists polled by Reuters had forecast, according to the commerce department’s bureau of economic analysis advance estimate. The report was published less than a week before Tuesday’s midterm elections, which will determine control of Congress.
The US Federal Reserve is expected to leave interest rates unchanged on Wednesday at its final rate-setting meeting before the midterm elections, after raising rates last month for the first time since 2023.
A cabinet split has emerged over whether to approve drilling at the Rosebank oilfield, with chancellor John Healey in favour and energy secretary Miatta Fahnbulleh leaning towards rejecting it.