MOD Spending: Destination Unknown

Britain's defence ministry reveals a £17bn budget black hole.

Today's report from the National Audit Office, on the UK Ministry of Defence 10 Year Budget Plan, is a shocker. It reveals that, over the next ten years, the MOD is planning to spend £17bn it does not have.

While some of this is due to inflation, a huge part of it is due to cost overruns on two strategic commitments: the nuclear deterrent and modernising…