Minister warns over submarine cost cuts
Source: Agencies |
July 19, 2010, Monday
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Print Edition
Print Edition
A TREASURY proposal to have the cost of replacing Britain's submarine-based nuclear arms system absorbed into the core defense budget would squeeze existing defense funding, Defense Minister Liam Fox said.
Under the previous Labour government it was agreed the Treasury would meet the cost of capital expenditure for Trident - expected to be as much as 20 billion pounds (US$30.68 billion) - as it was of strategic significance. But this is now under scrutiny as part of the spending review of Prime Minister David Cameron's government.
The 36.9 million pound defense budget pays for daily running costs such as military staff salaries and upkeep of equipment.
"There has always been an understanding (that) the budget for the nuclear deterrent came from outside the core defense budget. Running costs for the deterrent have always come from inside the defense budget, although the capital costs were outside," Fox said.
Under the previous Labour government it was agreed the Treasury would meet the cost of capital expenditure for Trident - expected to be as much as 20 billion pounds (US$30.68 billion) - as it was of strategic significance. But this is now under scrutiny as part of the spending review of Prime Minister David Cameron's government.
The 36.9 million pound defense budget pays for daily running costs such as military staff salaries and upkeep of equipment.
"There has always been an understanding (that) the budget for the nuclear deterrent came from outside the core defense budget. Running costs for the deterrent have always come from inside the defense budget, although the capital costs were outside," Fox said.
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