Defence: Finance
(asked on 31st January 2018) - View Source
Question to the Ministry of Defence:
To ask Her Majesty's Government what inflation rates they are assuming for each of the next five years in planning for defence budgets to rise by inflation plus 0.5 per cent.
This question was answered on 14th February 2018
Economic forecasts, including for inflation, are provided by the independent Office for Budgetary Responsibility (http://obr.uk/report/economic-and-fiscal-outlook). The Ministry of Defence's (MOD) budget was set at Spending Review 2015 and runs to 2020-21. This meets our commitment to increase MOD's core budget by 0.5% above inflation each year.