Britain’s Ministry of Defense (MoD) may see its plans to modernize the country’s military hit a snag over a lack of funds it needs to buy equipment to combat mounting threats over the next decade, the Independent reported, citing a parliamentary report.
The Ministry wants to spend almost £180 billion ($243.7 billion) over the next 10 years on the development of a new generation of nuclear-powered submarines, new frigates and the troubled F-35 fighter jet program.
The report concluded that the department “simply does not have enough money to buy all the equipment it says it needs” and accused it of losing control over costs.
The MPs were also critical of a lack of transparency over the costs of F-35 planes, which are due to enter service with the RAF this year.
The committee warned that the 10-year equipment plan contains “no headroom” and leaves Britain increasingly dependent on its foreign allies.