70%
True

When they [the Conservatives] came into power defence spending was 2.5%, and they took it down to 2.3%.

Per NATO/House of Commons Library data, UK defence spending was around 2.5% of GDP in 2010 when the Conservative-led government took office and stood at about 2.3% by the time they left office in 2024. (The low point was actually nearer 2.0% around 2017-18 before rising again, so the start-to-end framing is broadly accurate.)
Checked Wed 1 Jul, 10:00 · Broadcast: PMQs: Prime Minister's Questions - 10 June 2026

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