Britain will provide £10 billion of additional economic and military support to Ukraine, Chancellor John Healey told MPs in his Budget statement on 28 October 2026. Healey said the package was based on loans, export finance guarantees and £500 million in urgent military funding for this winter. He told Parliament that he and Prime Minister Andy Burnham had spoken to Ukrainian President Volodymyr Zelenskyy before the Budget, and reported that Zelenskyy had told them: “you've made my day”.

How the package is made up

Downing Street later set out the shape of the support as £7 billion of economic support over three years and £3 billion in export finance capacity for Ukraine. The £500 million military element was described as plugging urgent gaps in Ukraine's air defences ahead of winter. That winter focus matters because air-defence pressure has been a recurring theme in Ukraine's defence needs, and the Budget presented the funding as immediate help rather than only longer-term economic backing.

What this does not change

The announcement does not, on its own, end the war or set a new timetable for peace, and it should not be read as a single cash transfer. Much of the headline figure is loans, guarantees and finance capacity, not only direct grants, and the economic support is spread over three years. Its significance is therefore political and practical: a renewed public commitment from London, with a defined winter military component, at a time when Ukraine continues to seek sustained backing from its allies.

Sources: Reuters and AJ Bell / Alliance News.