The Budget includes a further £10bn of economic and military support for Ukraine, the Treasury has confirmed. It calls this the largest UK package ever. Prime Minister Andy Burnham and the Chancellor, John Healey, told President Zelenskyy on Budget morning.
According to HM Treasury, the package is made up of:
- £7bn of economic support over three years, including up to £5.5bn of World Bank guarantees and a £500m grant to the World Bank IDA crisis facility, which mobilises £1.5bn
- a £3bn rise in UK Export Finance capacity for Ukraine, prioritised for military support, taking total UKEF support to £6.5bn
The Treasury also announces £500m of extra military support for Ukraine's air defences this winter. It does not say whether this sits inside the £10bn.
The money comes on top of the £3bn a year the UK has already committed "for as long as it takes". The Treasury puts the total UK commitment to Ukraine, including this package, at £35bn. Of that, £16bn is military and up to £12.6bn non-military.
"When I said we would step up our support for Ukraine, I meant it," Mr Burnham said. Mr Healey said the UK's "commitment to Ukraine's sovereignty and defence remains unshakeable."
Some reports have put the package at £13bn. That appears to be the dollar figure of $13.3bn. One report dated the support to 2027, but the Treasury says the economic support runs over three years. The Treasury's description of the package as the largest ever has not been independently checked.