UK watchdog reveals $22 billion hole in military equipment plan
The NAO said the MoD’s defence strategies had become economically unsustainable due to an alarming 27% (£65.7 billion) surge in projected costs since the last report. (Photo: UK MoD/Crown Copyright)
The UK National Audit Office (NAO) has delivered a scathing evaluation of the MoD's Equipment Plan for 2023–33, revealing a nearly £17 billion 'blackhole' in the budget.
The MoD’s Equipment Plan (the Plan) for 2023–33 has shown a £16.9 billion (US$21.3 billion) funding gap, according to a report published by the UK National Audit Office (NAO) on 4 December.
The report, characterised as the most critical assessment in the watchdog's history, highlighted a disparity between projected costs and allocated budgets, drawing attention to concerning trends in government spending.
The NAO puts the estimated costs at £305.5 billion against a budget of £288.6 billion. Last year’s 10-year estimate was under budget by £2.6 billion. The watchdog said the MoD's defence plans had become financially unviable as forecasted costs surged by
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