Labour ‘falsified’ defence spending

Harry Kane wins Ballon d’Or | Zero-star review of Liz Truss’s new book | Netanyahu’s last stand

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Tuesday, 27 October 2026 Issue No. 611

Good morning. Labour has been accused of misleading the public about defence spending. Sir Ben Wallace, the former Conservative defence secretary, has said the Government artificially inflated the military budget by including billions of pounds spent on the security services. John Healey is expected to use tomorrow’s Budget to promise a “down payment” on hitting Nato’s 3 per cent target by 2030. Daniel Martin, our Deputy Political Editor, reports. Elsewhere, Jason Burt was in the room when England’s 25-year wait for a Ballon d’Or winner ended. Chris Evans, Editor P.S. Join us today for just 25p per month – and make sense of the Budget. If you’re already a subscriber, make sure you’re logged in to read today’s stories.   In today’s edition Harry Kane ends England’s 25-year wait for Ballon d’Or winner — Zero-star review: ‘Liz Truss’s book is the most deranged thing I’ve ever read’ — Plus, victory or prison: Netanyahu’s last stand

Budget special: Try 4 months for £1 Put our experts in your corner. Unlock full access to The Telegraph for just 25p per month. Claim now   Labour accused of falsifying defence spending John Healey prepares his Budget in Downing Street | Credit: Treasury / Kirsty O’Connor Daniel Martin Deputy Political Editor   When John Healey stands up to deliver his Budget tomorrow, he is expected to announce a significant increase in defence spending. However, the Chancellor will face questions over the accuracy of his figures. Sir Ben Wallace, the former Conservative defence secretary, has accused the Government of misleading the public about the amount it spends on the military. He said it artificially inflated the defence budget by including billions of pounds in intelligence spending. Nato rules stipulate that funding for the security services does not qualify as defence expenditure. Wallace has asked the UK Statistics Authority to investigate the Government for giving a misleading impression. The accusations could prove embarrassing for the Chancellor, who has pledged to ensure the Armed Forces have the money they need to keep the country safe. This report is available only to subscribers. Continue reading ➤ Elsewhere, millions are facing tax rises in the Budget. Here, our Money team outlines how you can prepare. Linus Uhlig Money Reporter   Households are bracing for further tax pain as Healey prepares to deliver his maiden Budget. With government debt topping £3tn, welfare costs soaring and defence spending to fund, he has little room to manoeuvre. Many already face higher taxes on savings and rental income from April, while frozen income tax thresholds continue to drag more earnings into tax. Pensions will also be brought within the scope of inheritance tax next year. Healey has so far ruled out further capital gains adjustments, but is reportedly considering a tax raid on family businesses passed down to the next generation. The markets are already reacting. The average shelf-life of a mortgage has fallen to just 16 days, pinching the pockets of prospective buyers and existing homeowners. On the eve of the Budget, millions could be affected. Continue reading ➤ Healey to announce inflation-busting minimum wage rise ➤   Opinion Tom Harris Burnham would be a fool to squander his massive majority with an early election Examples of poorly timed gambles abound – and there is no need for such a high-risk political strategy Continue reading ➤     Charles Moore I have trust issues with Big Nature Continue reading ➤     Oliver Brown Man Utd are a club where everyone is set up to fail Continue reading ➤     To make sure you don’t miss our newsletters when they land in your inbox, click here. In other news • The Metropolitan Police was warned that Thomas Markle could pose a threat to the Duke and Duchess of Sussex. A letter was sent to Scotland Yard in 2019 accusing Meghan’s father of child sexual offences. • BBC staff refused to promote an Emmy-winning documentary about the victims of the Oct 7 massacre in Israel. The film was commissioned by the broadcaster, whose in-house publicists turned their back on it “due to its subject matter”, it is alleged. • Britain is in talks with the EU about reinstating free movement of people under Andy Burnham’s plans to revisit Brexit. Options for the future relationship include rejoining as a member or returning to the single market. • The King faces protests demanding slavery reparations during his visit to the Caribbean this week. Activists plan demonstrations on the streets of Antigua when the monarch arrives as part of their campaign to secure compensation from European governments. • EasyJet has signed a deal with Elon Musk’s Starlink to offer satellite Wi-Fi on its flights. Under the partnership, the low-cost airline will offer passengers high-speed internet for the first time.   Essential Reads Harry Kane ends England’s 25-year wait for Ballon d’Or winner “Wow, wow, wow,” Harry Kane said as he took to the stage at the London Palladium after winning the 2026 Ballon d’Or, writes Jason Burt. The wobble in his voice showed just how much this meant to him. Ending England’s 25-year wait for the honour, it confirms Kane as one of the greats, and we are privileged to witness that greatness. Wow, what a night. Continue reading ➤   Victory or prison: Netanyahu’s last stand In the run-up to today’s Israeli general election, Benjamin Netanyahu posted an AI-generated picture of a nuclear bomb exploding in downtown Tel Aviv. Predictably, it caused outrage. It also seemed an apt metaphor for the crazy final days of his campaign. Facing corruption charges at home and war crimes charges abroad, Israel’s longest-serving prime minister knows that everything hangs on this result. Continue reading ➤   ‘Liz Truss’s new book is the most deranged thing I’ve ever read’ ☆☆☆☆☆ She’s back – at least in literary form. In a preposterous new book, Bank Job, the former prime minister declares that, in 2022, she and her visionary plans for Britain were brought down by a sort of financial Illuminati. Let us examine the ways, writes Simon Heffer, in which Truss is embarrassingly wrong. For subscribers only ➤   What striking consultants don’t want you to know about their pay Consultant doctors will go on strike next month unless they secure a £16,000 pay rise and a 35-hour working week. It’s an eye-watering demand for an already very well-paid cohort, even if you ignore the elephant in the room: the six-figure pension payouts that await senior NHS staff at the end of their careers. Continue reading ➤   Alix Mountbatten: ‘My family is the one thing I can’t change about myself’ For a royal, Alix Mountbatten has lived an unconventional life. Raised “feral” in the Devon countryside, the 28-year-old has worked as a carer, paramedic, yoga teacher and appeared on a reality show where she demonstrated her shooting prowess. However, as she tells Nicole Mowbray, her biggest challenge has been escaping the preconceptions attached to her name. Continue reading ➤   Seize the day The five-minute stair workout that could add years to your life I have always considered stairs to be the enemy, writes Liz Hoggard. They leave me out of breath, which is not great when there’s a family history of heart disease. So when I read that taking the stairs could cut the risk of early death, it felt personal. A recent study found that people who regularly climb stairs were 39 per cent less likely to die from heart-related problems. Here’s how to make the most out of five minutes on the stairs. Continue reading ➤ Here is something else you may find interesting this morning: What would you do if Nato was on the brink of war with Russia? Take your place in The War Room – a live, interactive experience from The Telegraph, hosted by Dominic Nicholls, Associate Editor, Defence, and plot Britain’s response to an escalating geopolitical scenario. Secure your place here.   The expert view ‘I’m a brain expert. Here’s why we must treat Alzheimer’s like cancer’ Our series The Expert View brings you specialist health advice from professionals. Here, Dr Emer MacSweeney, a consultant neuroradiologist and co-founder of Re Health, explains why access to new treatments could transform Alzheimer’s care. Dr Emer MacSweeney   For the first time, we have drugs that can slow the progression of Alzheimer’s disease. Lecanemab and donanemab work by removing harmful amyloid protein from the brain, helping to delay cognitive decline. Yet despite receiving regulatory approval in Britain, neither is available on the NHS. I’ve spent years on clinical trials of these pioneering treatments and my clinics have now treated more than 190 patients privately. I’ve seen first-hand the difference they can make. However, there’s a crucial catch: the window for treatment is narrow. Once Alzheimer’s has progressed too far, removing amyloid becomes much less effective. That’s why new diagnostic blood tests are so exciting. They could help us identify the disease while symptoms are still mild, giving patients a better chance of benefiting from treatment. We have an opportunity to transform dementia care, but early diagnosis means little without access to effective treatment. Continue reading ➤   Your Say Singing from the same hymn sheet Every weekday, Orlando Bird, our loyal Reader Correspondent, shares an off-piste topic that has brought out the best of your opinions and stories. Orlando writes: Last week, the cellist Julian Lloyd Webber called on Andy Burnham to make music compulsory in schools, arguing that too many children leave education without having heard a note of classical music. I agree that this is a terrible state of affairs, and think the Prime Minister should take up the suggestion. He could insist on adding a bit of New Order to the mix, of course.   Lloyd Webber has been backed by Telegraph letter-writers, among them Dame Elaine Paige. “Music deserves to be part of every school curriculum,” she wrote, “as education should nurture the whole person, not merely measure academic achievement. Not every child will excel in academic subjects, but every child deserves the chance to discover their strengths, build confidence and find something that inspires them. Music offers more than the ability to play an instrument or read a score; it teaches discipline, resilience, creativity, collaboration and, perhaps most importantly, a sense of belonging and self-worth.”   Millan Sachania agreed, but pointed out: “Music not only complements the academic curriculum but also intersects with it, drawing together subjects such as history, literature and mathematics within an exacting discipline of its own. Learning to write counterpoint in the style of Bach, or understanding the historical, cultural and aesthetic forces that shaped the works of Haydn and Mozart, requires intellectual rigour. The Government would do well to value a subject that engages the mind so rigorously while deepening our understanding of what it is to be human.”   Bravo. I am a Bach obsessive, though, so I would say that. Not everyone regarded compulsory music classes quite so fondly. Victoria Hawkins recalled: “On one memorable occasion, I was mouthing the words (as usual), when the student teacher noticed me and insisted that I sing. Moments later, she banged on her desk because one of us was singing out of tune, and said we must all sing individually. To my huge relief, the whole class informed her that it was me, and I was allowed to resume mouthing the words.” Should schools make more time for music? Send your responses here, and the best of the bunch will feature in a future edition of this newsletter. Please confirm in your reply that you are happy to be featured and that we have your permission to use your name.   On this day 1986 | Government deregulates financial markets in a “Big Bang” (see the coverage on our front page from the following day below) 2017 | The Catalan parliament unilaterally declares independence from Spain 2022 | Elon Musk takes ownership and control of Twitter and immediately fires four executives Birthdays: Kelly Osbourne (42), Glenn Hoddle (69), John Cleese (87) Plus, footage has emerged of a prominent British politician dancing. Can you work out who is showing off their moves below? 1. Sir Keir Starmer 2. Robert Jenrick 3. Andy Burnham 4. Tom Tugendhat Click on one of the above options to reveal the answer   Puzzles Find as many words as you can in today’s Panagram, including the nine-letter solution. Visit Telegraph Puzzles to play a range of head-scratching games, including PlusWord, Sorted, and Quick, Mini or Cryptic Crosswords.   Yesterday’s Panagram was NIGHTGOWN. Come back tomorrow for the solution to today’s puzzle.   Thank you for reading. Have a fulfilling day and I hope to see you tomorrow. Chris Evans, Editor P.S. I’d love to hear what you think of this newsletter. You can email me your feedback at fromtheeditor@telegraph.co.uk. Budget special: Try 4 months for £1 Put our experts in your corner. Unlock full access to The Telegraph for just 25p per month. Claim now

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