Chancellor John Healey has been told that renewed threats to the Falkland Islands’ security have highlighted the urgent need to boost funding for the Armed Forces.

As Mr Healey prepares to deliver a speech on Monday to try to reassure jittery markets over Labour’s stewardship of the economy, military experts warn that Britain will have ‘major problems’ defending the islands if Argentina repeats its 1982 invasion.

Tensions over the territory have escalated after Argentinian president Javier Milei reiterated the country’s claim on the Falklands and moved to enforce a crackdown on oil exploration in the area.

This came after US President Donald Trump said that US support for the UK over the issue was ‘under review’.

Britain’s contingency plan to reinforce the islands is to send troops and helicopters by Airbus A400M from RAF Brize Norton. The only other option is to emulate Margaret Thatcher’s naval Task Force, which would rely on an escort from Nato submarines.

But Tim Ripley, a senior military analyst at Defence Eye, said: ‘The UK military is not prepared for war in the Falklands, it has just enough capability to defend the garrison until it can be reinforced. 

The problem is if Argentina attacks the runway, we would have major problems getting troops to the South Atlantic Ocean. We have no military helicopters in the Falklands [and] no frigate and submarine has been in the area in years.’ 

He added: ‘Argentina could easily land on one of the uninhabited islands in the west and claim sovereignty in an asymmetric-style assault that we would struggle to react to.’

John Healey met with personnel from 2 SCOTS of the 4th Light Brigade while he was defence secretary in May

Argentine President Javier Milei addressed the nation on Friday

Shadow Chancellor Andrew Griffith said: ‘It is madness for Labour to spend billions on welfare for people with mild mental health conditions who could be working, while our Armed Forces are crying out for more funding to defend this country including the Falklands. We look weak and our enemies are sniffing the opportunity. Healey needs to get a grip, cut the welfare bill and put Britain’s national security first.’

The Mail on Sunday’s Don’t Leave Britain Defenceless campaign has been pushing Labour to find more money for the Armed Forces and security of the nation. 

Mr Healey is expected to use his speech to try to calm the markets after borrowing costs hit their highest level in 28 years. A Treasury source said ‘fiscal discipline’ and plans to secure economic growth would be ‘an important part of his message’.

Mr Healey quit as defence secretary and effectively finished Sir Keir Starmer’s government earlier this year after the then-PM failed to commit to spending 3 per cent of GDP on defence by 2030. He accused the Treasury of being ‘unwilling’ to ‘commit the resources that the nation needs to defend the country’.

At Reform UK’s conference on Saturday, Robert Jenrick said Nigel Farage would ‘crush’ Argentina if it tried to take the Falklands and use ‘every lever of the British state’ to defend the islands if he was PM.

The Falklands’ garrison comprises 120 infantry soldiers, four Typhoon jets and the air defence system Sky Sabre, which has a limited number of missiles due to the perceived ‘low threat’ from Buenos Aires.

A key guardian of the Falklands has been a Royal Navy nuclear submarine and, until 2024, a sub was routinely deployed to the South Atlantic. 

But delays with Astute-class attack subs and maintenance issues have left the fleet unable to send a sub. The lack of a frigate also prevents troops from patrolling South Georgia – where the 1982 war began.

In the past year, Argentina has beefed up its armed forces with the purchase of 24 US-made F-16 Fighting Falcon aircraft from Denmark and advanced armoured vehicles from Washington.

But a Ministry of Defence spokesman said: ‘These claims [by military experts] are baseless. We are more than capable of defending the Falkland Islands and we stand ready to protect the Islanders’ freedom and self-determination.’

READ MORE: ‘You weren’t there to help me’: Trump hints he wouldn’t back Britain if Argentina invaded the Falklands – as he jibes that the country ‘isn’t doing well’