UK increases financial support for Ukraine in £10 billion package

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UK £10bn Ukraine support

Highlights

UK announces a £10 billion package for Ukraine including £500 million in extra military support and £7 billion in economic aid over three years.
The package adds £3 billion in new UK Export Finance capacity prioritized for Ukraine's military support, marking the largest UK financial commitment to Ukraine so far.
UK leaders reaffirm commitment to Ukraine’s security and vow to intensify sanctions on Russia, aiming for coordinated European support at the next summit.

Budget support package and funding breakdown

As reported by GOV.UK, the Prime Minister and Chancellor tell President Volodymyr Zelenskyy in a call on 28 October that the UK is increasing its financial support to Ukraine by £10 billion in the day's Budget.

The Prime Minister says the package includes £500 million in additional military support from the Ministry of Defence to address urgent gaps in Ukraine's air defences this winter. He adds that the commitment also contains £7 billion in economic support over three years and a further £3 billion in UK Export Finance capacity for Ukraine, prioritised for military support.

The Prime Minister describes the package as the biggest financial commitment the UK has ever made to Ukraine, saying it reflects the government's determination to ensure Kyiv has the means to continue resisting Russia's invasion.

Security strategy and European coordination

The two UK ministers begin the call by telling Zelenskyy that developments in Ukraine remain central to UK and European security. The Chancellor says the UK is also continuing to increase pressure on President Vladimir Putin by stepping up sanctions in an effort to force Russia to the negotiating table.

The leaders also discuss the upcoming European Political Community meeting and agree that it should be used to secure further support from partners for Ukraine. The Prime Minister and Chancellor end the call by telling Zelenskyy that the Ukrainian people remain in their thoughts as they continue to face attacks, and say they look forward to speaking again soon.

Our earlier coverage of Chancellor John Healey’s pre-Budget stance focused on his commitment to an IMF-backed deficit-reduction path ahead of the 28 October fiscal statement. We also highlighted the UK’s modest 0.1% GDP growth in August and the rising political pressure over how the Budget should balance fiscal discipline with measures to support growth and households.

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