14 January 2021
by Tim Ripley
UK defence chiefs ordered a GBP1 billion (USD1.4 billion) round of emergency spending cuts to stay within its budget in the financial year up to the end of March, according to the annual report into the country’s military procurement plans by the National Audit Office (NAO).
The spending watchdog reported in a 12 January press release that its best estimate of the UK Ministry of Defence’s (MoD’s) procurement budget shortfall out to 2030 had risen to GBP7.3 billion, up by GBP2.9 billion from the previous year. Its worst-case estimate of underfunding was GBP17.4 billion.
UK defence chiefs ordered a GBP1 billion (USD1.4 billion) round of emergency spending cuts to stay w…