Nato to hike defence funding

NATO leaders have agreed on a massive hike in defence spending after pressure from US President Donald Trump, and expressed their “ironclad commitment” to come to each other’s aid if attacked.

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The 32 leaders endorsed a final summit statement saying: “Allies commit to invest 5% of GDP annually on core defence requirements as well as defence - and security-related spending by 2035 to ensure our individual and collective obligations.”

Spain had already officially announced that it cannot meet the target, and others have voiced reservations, but the investment pledge includes a review of spending in 2029 to monitor progress and reassess the security threat posed by Russia. The leaders also underlined their “ironclad commitment” to Nato's collective security guarantee - “that an attack on one is an attack on all”.