Report: UK Military Faces £16.9B Equipment Shortfall
The UK's National Audit Office (NAO) has estimated that the British armed forces' budget for weapons and equipment will see a £16.9B ($21.6B) shortfall over the next decade — the largest deficit since the institution's first report in 2012....
Facts
- The UK's National Audit Office (NAO) has estimated that the British armed forces' budget for weapons and equipment will see a £16.9B ($21.6B) shortfall over the next decade — the largest deficit since the institution's first report in 2012.1
- According to the public spending watchdog, the Ministry of Defense (MoD) 'acknowledges' that its 2023-2033 Equipment Plan was 'unaffordable' because of rising costs due to inflation and demands from the government's updated strategy.2
- As estimated costs sat at £305.5B in March — compared to a budget of £288.6B — the watchdog suggested that the outlook signified 'a marked deterioration' in the British forces' financial position since last year's plan.3
- However, the department said the report 'does not and could not accurately reflect the current or future state of the armed forces equipment plan.'2
- The news comes after a UK think tank recently advised the government to outsource non-combat functions to reduce costs by up to 40% and buy defense equipment through bidding in order to save taxpayer money.4
Sources: 1Reuters, 2Barron's, 3Channel News Asia and 4Institute of Economic Affairs.
Narratives
- Left narrative, as provided by The Guardian. The UK government continues to lack a coherent economic strategy, as has become the norm for several years under Conservative Party leadership. Stagnation continues to run rife, and the UK remains sluggish amongst the G7 in growth performance. The current government, doomed to be booted out of power in the next general election, lacks a clear plan to revive the nation from its grim deterioration.
- Right narrative, as provided by The Telegraph. While there are issues surrounding the UK's current political and economic position, Britain's opposition lacks a solid solution to the public's problems today. Recent criticisms have been saturated with evasions and ambiguities concerning how other policy directions would resolve economic issues. Labour's bloated pledges are not yet trusted by the electorate.
