in Defence

Chancellor allocates extra £1bn for MoD

Posted 29 October 2018 · Add Comment

The Ministry of Defence has been given £1 billion in additional funding in the Budget, the Chancellor has announced.

Philip Hammond highlighted the need to boost the UK's cyber capabilities and anti-submarine warfare capability and maintain the pace of the Dreadnought programme.

The funding will cover the remainder of 2018-19 and 2019-20.

Earlier this year, the Prime Minister an extra £600 million to keep the Dreadnought programme on schedule.

The Defence Secretary responded to the Budget, saying: “The submarines will carry the Trident deterrent when the current Vanguard class is scrapped.

Via a defence ministry release, Defence Secretary Gavin Williamson later added: “The extra £1 billion for defence on top of the £800 million increase this summer represents a substantial financial boost and reaffirms our commitment to protecting national security.

“Not only will this funding ensure we continue to have world-leading armed forces but will also allow defence to modernise our critical assets, such as our offensive cyber capabilities, anti-submarine warfare and our nuclear deterrent.

“Furthermore, it allows us to deliver our existing plans set out within the Strategic Defence Review 2015.”

"The UK spends more on defence than any NATO member except the US," Mr Hammond told the House of Commons.

"But over the last year we've had stark reminders of the scale, scope and complexity of the threats we face.

"As a former Defence Secretary myself, I understand the immediate pressures our armed forces are facing.

"So, I will today provide an additional £1 billion to the MOD. To boost our cyber capabilities and our anti-submarine capabilities and to maintain the pace of the Dreadnought programme to ensure a continuous at sea deterrent."

Also announced was that the Treasury is to make a £10 million donation to mark the Centenary of the Armistice by supporting veterans with mental health needs.

"Many projects are raising money for veterans’ charities from sales of commemorative items on which VAT is charged," said the Chancellor.

"We cannot waive the VAT due on these sales, but we can make a donation with the VAT we will receive.

"The Treasury will mark the centenary of the Armistice by making a donation of £10 million to the Armed Forces Covenant Trust to support veterans with mental health needs."

He went on to say that £1.7 million will be spent for educational programmes in schools to mark the 75th anniversary of the liberation of concentration camps.

Up to £70 million has been pledged to construct the national element of the Defence and National Rehabilitation Centre near Loughborough.



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