So back in August I wrote this;
"Further compounding this problem is the reduction in the value of the pound brought on by the Brexit vote, especially when considering the future major purchases of US products such as the P-8 Poseidon and F-35 Lightning. Under normal circumstances you'd expect a big organisation such as the MoD to have taken a sizable hedge position in the dollar prior to the Brexit vote, just in case, given the scale of its potential exposure to currency risk. But then this is the MoD we're talking about, so nothing is certain. We'll find out soon enough I guess."
Yeah, so we found out. They didn't. And now the fresh black hole in the MoD's finances amounts to about £20bn over 10 years. But it's not all currency based, as it has also emerged that the MoD has backtracked on many of its prior pledges to reduce expenditure. Which brings us here, to the second part of this three part series looking at how the UK might plug said gap. That means assessing the army.
