Defence secretary says value for money and modernisation key for spending to ‘fight the wars ahead’

The defence secretary, Wes Streeting, says he started stockpiling food and water weeks ago in case of a national emergency, as he talked up the threats to the UK and said his department had already begun ramping up its spending in response.

Streeting spoke after the chancellor, John Healey, said he wanted defence spending to reach 3% of GDP by 2030 and 3.5% by 2035; having already asked Whitehall departments to find 1% cuts in their budgets for long-term investment to fund defence spending.