US defence spend
The US spends approximately one trillion dollars a year on defence, enabling it to bet on every capability simultaneously — a luxury the UK cannot afford.
Snapshot · The Rest Is Politics
544. How Trump Is Weaponising AI and Martial Arts at the White House
Explore episode
Jun 17, 2026
Where this was said
UK Defence: The Impossible Choices
At 19:39 · chapter starts 19:30
With the US spending a trillion dollars a year on defence and able to 'bet on everything,' the UK faces brutal prioritisation decisions it is politically incapable of making. Stewart runs through the five main defence capabilities Britain theoretically wants — aircraft carriers, a sixth-generation fighter (GCAP), advanced submarines, army recapitalisation, and munitions stockpiling — and argues bluntly that the country cannot afford all five simultaneously [1] — Rory Stewart "US defence spend: The US spends approximately one trillion dollars a year on defence, enabling it to bet on every capability simultaneously…" 19:39 . He singles out aircraft carriers as the most obvious candidate for cancellation: they only work with a support fleet Britain can't afford, and they were designed for counter-insurgency projection into the Indo-Pacific, a mission Britain has largely abandoned. The GCAP fighter is equally questionable: due in 2040, at perhaps £200 million per unit, possibly obsolete before completion in a world of cheap mass drones [2] — Rory Stewart "GCAP fighter delivery date: 2040: The GCAP fighter jet being developed with Italy and Japan won't be delivered until 2040, raising serious …" 21:30 . Campbell connects this to John Healey's resignation, suggesting the former Defence Secretary was particularly frustrated by the Treasury blocking the Canadian-proposed Defence Security and Resilience Bank.
Britain's Defence Dilemma: We're Trying to Do It All
The US can bet on every defence capability simultaneously. The UK cannot. Aircraft carriers need a support fleet we can't afford. The GCAP fighter arrives in 2040, by which time drone warfare may have made it irrelevant. The real investment needed is in the engineers and industrial capacity to produce new software every 6 weeks.
GCAP fighter delivery date: 2040
The GCAP fighter jet being developed with Italy and Japan won't be delivered until 2040, raising serious questions about its relevance in a world increasingly defined by drones and AI.
The Treasury Veto: Why John Healey Really Quit
John Healey's resignation letter included a cryptic line about 'other ways of raising money without causing too much trouble in the markets.' What it referred to was the Canadian-proposed Defence Security and Resilience Bank — a vehicle for defence investment that avoids hitting fiscal rules. The Treasury blocked it. The gap between defence need and fiscal reality has never been wider.
Ukraine vs Iran: Two Models of Modern War
Ukraine is a war of cheap hovering drones and frozen frontlines. Iran was the dream of US-Israeli planners — exquisite expensive aircraft taking out all air defences in 24 hours. Britain has to decide which model it is building for, and neither answer justifies a fighter jet that won't arrive until 2040.
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