The UK Ministry of Defence (MoD) is £2.5bn (US$5.2bn) over budget on its biggest weapons projects, according to the public spending watchdog the National Audit Office (NAO).
The total budget for the projects, including European Aeronautic, Defence & Space Co’s A400M transport aircraft, is forecast to cost £28bn.
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The MoD needs to find savings of more than £1bn to cover cost overruns on major projects, the NAO report says.
By staff writer
