MoD Overspends Gear Budget by £6.5bn

The 16 most costly defence projects are likely to be 39 years late, according to a National Audit Office report.The Ministry of Defence has overspent its equipment budget by £6.5bn and some of its major orders are likely to be delivered 39 years late. The 16 most costly projects should have taken 159 years to deliver between them and cost a total of £56.5bn. But the National Audit Office (NAO), in its latest report into the MoD's spending, reveals they are now set to take a total of 195 years and cost £61.1bn.