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Monday, November 03, 2008

Analysis: Reducing F-35 purchase could save UK up to USD5.8bn

As the UK Ministry of Defence (MoD) struggles to cope with the budgetary pressures of conflicts in Iraq and Afghanistan and a massive equipment modernisation process, major cuts in one or more programmes appear to Jane's to be inevitable.

The global financial crisis and the UK's subsequent response in October (including the multi-billion pound buttressing of the banking system and a commitment to increase public spending to offset recession) has since added to the strain felt by the Treasury.

Lingering hopes that extra funding would be made available to supplement the defence budget in the short to medium term appear to have been dashed.

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