The UK Government has announced that the planned Ministry of Defence (MoD) equipment budget has been increased by over £3bn to fund essential military equipment during the spending review period after 2015.
The 1%-a-year increase in the equipment support programme secures the long-term vision for the military, dubbed Future Force 2020.
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The extra funding will allow the MoD to place orders for 14 Chinook helicopters, three new Airseeker signals intelligence and surveillance aircraft, and upgraded Warrior armoured vehicles for the British Army over the next decade.
The MoD will also submit a fully funded and balanced ten-year equipment plan by September 2011, which will be reviewed by the National Audit Office for an affordability audit.
The capabilities and expansion of the reserves will be further enhanced with a £1.5bn investment package over the next ten years as per the conclusions revealed in the reserve forces review, known as the ‘Future Reserves 2020 Study’.
UK Defence Secretary Dr Liam Fox said, “This commitment to increase defence equipment funding after 2015 will ensure our armed forces remain a formidable fighting force on the world stage.”
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By GlobalData
