Chancellor Rachel Reeves stressed that Labour had only committed to hitting 2.5 per cent of GDP in the current Parliament.

Mark Rutte is set to hold talks with the PM in London and deliver a speech warning of the need for a 'quantum leap' in investment.

In the face of 'a new era' of threats, Ms Reeves said there must be 'a new era for defence and security'

Chancellor Rachel Reeves stressed that Labour had only committed to hitting 2.5 per cent of GDP in the current Parliament.