UK Announces Largest-Ever £10bn Ukraine Support Package at Budget 2026, Including £3bn Increase in UK Export Finance Capacity

Chancellor John Healey announced on 28 October 2026, as part of Budget 2026, the largest ever package of UK financial backing for Ukraine, totalling £10 billion in combined economic and military support. The package includes £7 billion of economic support over three years, comprising up to £5.5 billion of World Bank guarantees and a £500 million grant contribution to the World Bank International Development Association's crisis facility, which is expected to mobilise £1.5 billion of support for Ukraine. A £3 billion increase in UK Export Finance (UKEF) capacity, prioritised for military purposes, brings total UKEF support to £6.5 billion. A further £500 million in additional military support is earmarked specifically for Ukraine's air defences this winter. Prime Minister Andy Burnham and Chancellor Healey informed President Zelenskyy of the decision ahead of the Budget statement. The announcement builds on the UK's existing commitment of £3 billion per year and brings cumulative UK commitments for Ukraine to £35 billion in total, spanning military, non-military, and export finance support. The package comes as the UK also committed, for the first time, to spending 3% of GDP on defence by 2030, a staging post toward the NATO target of 3.5% of GDP by 2035, though the Chancellor did not specify where the funding for that broader defence uplift would be found. A joint procurement initiative with Finland, Poland, and the Netherlands is among the financing mechanisms cited.

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