HC 391, Incorporating HC 392 - Strategic financial management of the Ministry of Defence and Military flying training
Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
Published: 2015
Total Pages: 25
ISBN-13: 0215088026
DOWNLOAD EBOOK →The Department has addressed the £38 billion funding gap that emerged prior to 2010 between the funding it expected and the forecast cost of Defence over the following ten years. It has also cut its costs to live within a reduced budget. However, this has been achieved not just by delivering financial savings, but also by deferring some costs into future years, at the risk that these costs could increase because of the delay. The stability of the Department's financial position depends on the accuracy of a large number of assumptions it has to make, many of which have proved over-optimistic in the past, and its ability to: control its costs, achieve the significant savings anticipated in the equipment and infrastructure budgets, and manage the cost of the Department's portfolio of nuclear-related programmes.