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Tuesday, April 10, 2012

$24 billion British budget blowout in black hole F-35 project

[F-35 Lightning II]The UK is set to fork out £15 billion, or $24 billion, for the American Joint Strike Fighter program, whose total costs are set to exceed £900 billion ($1.4 billion) over the next 50 years, making it the most expensive military project in history.

­The JSF stealth fighter jets, also known as F-35, are being developed and assembled by Lockheed Martin in the US. The JSF program is partly funded by Britain and seven other “partner nations”.

Each F-35 Lightning II stealth fighter jet will cost the UK around £85 million ($136 million), plus an extra £16 million ($25.6 million) for each engine.

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