Healey wanted UK to join global defence bank, BBC told

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Rachel Healey, Britain's former defence secretary, wanted the UK to join a global defence bank aimed at financing military capabilities across allied nations, according to allies who spoke to the BBC. Treasury officials allegedly blocked the proposal, viewing it as a threat to Britain's fiscal independence and existing financial structures. The disagreement reflects a broader tension between the Defence Ministry's ambitions for closer military coordination with NATO partners and the Treasury's caution about new multilateral financial commitments. The global defence bank concept has gained traction among Western allies seeking to accelerate weapons production and standardize military equipment across member states. No comment from the Treasury was immediately available on the claim.