£7bn Gap In MOD Equipment Funding

Posted on February 1, 2019

The Public Accounts Committee said the MoD lacked the ability to “accurately cost programmes” and that the shortfall could reach £14.8bn by 2028. MPs added the government did not have a “coherent and credible” funding plan. The MoD said it was “addressing the financial challenges” it is facing.
A spokesman for the department added: “We are confident that we will deliver the equipment plan within budget this year, as we did last year, as we strive to ensure our military have the very best ships, aircraft and vehicles.”
The MoD plans to spend more than £180bn on new warships, submarines, jets and armoured vehicles over the next decade. But the PAC’s chairwoman, Labour MP Meg Hillier, said the department was “a repeat offender” when it came to “poor financial planning”.

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