UK in talks about joining global defence bank led by Canada

Image source, PA Media Image caption, A British soldier taking part in a Nato exercise in Finland

The UK government is in discussions about joining a global investment bank, aimed at raising more money for defence spending.

Chancellor John Healey is considering a bid to join the Defence, Security and Resilience Bank (DSRB), not long after his predecessor Rachel Reeves rejected the idea.

Canada has been leading efforts to establish the bank, which supporters say would enable governments to borrow at lower costs to increase military spending.

Treasury officials stressed that no decision has been made. A government spokesperson said it was "fully committed to working alongside our international partners to scale defence industrial capacity."

Before he cancelled commitments due to the death of his father, Prime Minister Andy Burnham had been due to meet Canada's Prime Minister Mark Carney in the UK on Wednesday.