The latest report by the British American Security Information Council (BASIC) reveals that the Dreadnought programme will far outstrip the MoD’s allocated budget of £41bn. BASIC’s  report illustrates in clear detail the cost risk of Trident renewal to the UK’s Defence budget; Dreadnought’s through life costs are likely to be between £110-14bn.

The National Audit Office said the MoD is facing a £2.9bn black hole to replace Trident and the Public Account Committee has said the programme is ‘not fit for purpose.’ The report reveals the risk that cost overruns will mean further cuts to the MoD’s procurement budget for conventional forces within the existing budget. Project risks are exacerbated by the fall in the value of sterling against the US Dollar in the aftermath of the Brexit Referendum and further falls in sterling’s value would proportionally increase Dreadnought costs. BASIC says that short of a sustained sterling rally and absent a significant increase in defence spending, the MoD will blow its budget.

Further cause to secure meaningful UK support for multilateral nuclear disarmament!