Crunnch talks about increasing NATO’s defence target are being held ahead of Donald Trump’s US presidential inauguration in January. European members are discussing a rise to 3% which could be implemented at its annual summit next year in June.

Four people are reportedly involved in the preliminary talks, according to the Financial Times, which would see the alliance’s target rise by 1%.

For 2024, only 23 allies out of 32 are expected to meet or exceed the current target of 2%. However, this is up from six in 2018.

The target was recommitted by NATO Heads of State in 2014, a figure set out in 2006 to help ensure the alliance’s continued military readiness.

The discussion follows pressure from Donald Trump to ensure members are “paying their bills” stating he would consider pulling the US from NATO if targets were not met.

A meeting of alliance foreign ministers took place last week, which is where the confidential talks began.

Three people disclosed to the FT that they envisage a short-term pledge to hit 2.5% and, by 2030, a target of 3%.

NATO Mark Rutte told the FT earlier this month: “I have a number in my mind, but I’m not going to mention it now.

“But clearly, when you look at the capability targets, [when] you look at the gaps still there. It is clear that, with 2%, you cannot get there.”

The UK Government has committed 2.5% of GDP towards defence spending. However, a timeline for this has not been set out, or whether it would be met for the next election.

However, this was met with criticism from the Conservatives who last month said Labour should commit to a 2030 deadline.

Shadow Foreign Secretary, Dame Priti Patel, said that the government “could have done more in that Budget to put the pathway forward for 2.5% of GDP on defence”.

She added: “We are living in very insecure times geopolitically, and we do need to step up.”