Mar 29, 2018
Extra £800 million for MOD in the next financial year
Chancellor Philip Hammond and Defence Secretary Gavin Williamson have confirmed that the Ministry of Defence (MOD) will benefit from an extra £800 million in the next financial year.
£200 million was agreed at the Supplementary Estimates earlier in the year, with access to £600 million from the Dreadnought contingency, first announced in 2015, which will ensure that the UK’s new world-class nuclear submarines are delivered on time and within the £31 billion budget agreed at the Strategic Defence and Security Review in 2015.
Williamson said: “This is a welcome boost to our Armed Forces, ensuring we can continue to back-up our national security with the ultimate capability. In a world of intensifying and evolving threats, we must strengthen and maintain our ability to seize opportunities and counter challenges as they emerge. I have launched the Modernising Defence Programme to ensure we have the capabilities we need to keep Britain safe in an increasingly dangerous world.”