UK's fairy land equipment budget
The UK Ministry of Defence’s equipment budget is based on a dream world of accounting where they think their reduced cost forecasts will be met.
Released on 12 January, the ten-year equipment budget stretches from 2014-15 to 2023-24 and will see overall cuts of £1.4 billion. According to the National Audit Office’s (NAO) Major Equipment report, the savings made in the budget are the result of reductions in future cost forecasts.
However, the NAO said that these forecasts were ‘over-optimistic’ and ‘could result in overall budgets for procurement and support being significantly understated’.
‘Project teams continue to be over-optimistic
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![QinetiQ reports record growth and announces $2 billion contract but shows loss for FY2025]()
QinetiQ reports record growth and announces $2 billion contract but shows loss for FY2025
QinetiQ has operations in Australia, the UK and the US with the latter including supporting Customs and Border Protection, US Navy aircraft carrier support and work on US Army’s Future Long Range Assault Aircraft.
-
![New UK-EU defence pact misses concrete details despite ambitious “first step”]()
New UK-EU defence pact misses concrete details despite ambitious “first step”
Given the geopolitical gravity, analysts have said the defence and security agreement established falls short of what is needed for future UK-EU co-operation.
-
![Drones, C-UAS and air base investments top the list in $42 billion US-Qatar defence deal]()
Drones, C-UAS and air base investments top the list in $42 billion US-Qatar defence deal
General Atomics Aeronautical Systems secured a nearly $2 billion deal for MQ-9B uncrewed aerial systems, while Raytheon’s counter-UAS system was secured for $1 billion.
