Let public buy war bonds to raise 20bn for defence, say Lib Dems

""war bonds""

""give ordinary people the opportunity to contribute to Britain's security""

"A spokesperson for the government said "new debt instruments" were kept under review but that they had to represent "value for money" and "be consistent with wider fiscal objectives"."

"Sir Richard Knighton said the UK was "not as ready as we need to be for the kind of full-scale conflict we might face"."

The Liberal Democrats propose issuing "war bonds" to allow members of the public to loan the government money over two to three years at standard government bond interest. The party estimates the scheme could raise up to £20bn to strengthen the military. The government says new debt instruments remain under review and must offer value for money and align with wider fiscal objectives. Defence spending pressures increased after Russia's 2022 invasion of Ukraine and criticism of NATO spending levels. Labour has pledged to raise defence spending to 2.5% of national income by 2027 and to 3.5% by 2035, while military leaders warn of readiness shortfalls and reports suggest further funding gaps.

Read at www.bbc.com