MOD up to £21bn short of funds

Britain’s Armed Forces could be almost £21 billion short of the money needed to buy equipment over the next ten years, a scathing report from MPS has warned.

A Public Accounts Committee investigation said the Ministry of Defence (MOD) “simply does not have enough money to buy all the equipment it says it needs” and accused it of not being clear about the financial risks it faces.

Its report said the “affordability gap” in the Mod’s equipment plan for 2017 to 2027 had worsened since last year.