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Monday, May 14, 2012

Hammond plugs £38bn MoD budget hole

[Philip Hammond]The cash-stricken Ministry of Defence has finally succeeded in balancing the books, Defence Secretary Philip Hammond is set to announce.

Mr Hammond is expected to tell the Commons that he has plugged the £38 billion "black hole" in the defence budget which ministers said they inherited from the last Labour government.

"In terms of reducing the size of the Civil Service, the Army and the Air Force, we shouldn't have to do any more over and above what we've already announced," he said in an interview with The Sunday Times.

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