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Sunday, January 22, 2012

Ministry of Defence faces £2 billion more cuts

Type-22 (Broadsword) classThe new measures will come close to eradicating a £38 billion "black hole" in the MoD's finances blamed by ministers on massive over-spending under Labour.

It is also understood that Philip Hammond, the Defence Secretary, will announce next month that the MoD is finally back in budget after one of the most controversial periods of defence cutting in recent history.

The cuts will form part of "Planning Round 12" which will outline the department's spending proposals for the next 12 months.

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