UK army R&D encounters 20 percent cut
Date
8/15/2024 7:20:15 AM
(MENAFN) According to a report by *The Telegraph* published on Tuesday, the British government is planning to reduce funding for military research and development by approximately 20 percent this financial year. The information, which comes from anonymous civil servants, has been contested by the Ministry of Defence.
The proposed funding cut is part of a broader financial adjustment strategy implemented by the new Labour government. This move is in response to a significant fiscal shortfall left by the previous Conservative administration, which has left a EUR22 billion (USD28 billion) deficit. Chancellor of the Exchequer Rachel Reeves has stated that government departments need to find EUR5.5 billion (USD7 billion) in savings this year alone.
In response to the claims, a spokesperson for the Ministry of Defence has refuted the report, asserting that the claims are inaccurate. The statement from the ministry underscored Labour's commitment to increasing defense spending to 2.5 percent of GDP, a goal they aim to achieve sooner than the Conservative's target of 2030. The ministry affirmed its intention to allocate over EUR6.6 billion for research and development during the current spending review period and to continue advancing satellite-based intelligence, surveillance, and reconnaissance capabilities.
The Telegraph's report also highlighted potential impacts on specific defense projects, including the Minerva project. This initiative, led by the United Kingdom Space Command, aims to establish a new constellation of space satellites by 2026. The first satellite launch is scheduled for this week, but there are uncertainties regarding subsequent launches, according to Surrey Satellite Technology, the company responsible for developing the spacecraft.
Overall, the reported reduction in military R&D funding reflects the broader fiscal challenges faced by the British government and the ongoing adjustments required to address the national financial deficit while striving to maintain key defense capabilities.
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