Joint Strike Fighter Aircraft

(asked on 20th July 2021) - View Source

Question to the Ministry of Defence:

To ask the Secretary of State for Defence, what estimate he has made of the through-life cost of the F-35 programme; and on what £/$ exchange rate that assumption is based over the lifetime of the programme.


Answered by
Jeremy Quin Portrait
Jeremy Quin
This question was answered on 26th July 2021

The estimate of the through-life cost of the F-35 programme is £18.76 billion. Based on the endorsed forty-eight F-35B Programme of Record, this estimate includes sunk costs (already recognised in Defence Accounts) and forecast costs (future expenditure until F-35 Out of Service Date). The sunk costs were recognised at the £/$ exchange rate when the expenditure occurred. Any forecast costs that are transacted in USD$, are converted to GBP£ using the relevant Ministry of Defence Corporate Planning Assumptions for the Annual Budgeting Cycle.

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