A key part of Sir Keir Starmer’s “reset” with the European Union has failed as negotiations for the UK to join the EU’s flagship £150 billion defence fund collapsed. The UK had been hoping to join the Security Action for Europe (SAFE) rearmament fund, which is designed to use low-interest loans to boost weapon production cut reliance on US supplies. It’s a response to the growing threat from Russia and fears that the US can no longer be considered a reliable ally.

But the EU had been demanding that the UK contribute up to £5.7 billion, with the British Government willing to provide less than £1 billion to the cost of administering the scheme and guaranteeing loans issued under it. And with a deadline of November 30 for agreement to be reached, talks have broken down. The Bloomberg n

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