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Ministry of Defence: Public Expenditure

Question for Ministry of Defence

UIN 59328, tabled on 10 October 2022

To ask the Secretary of State for Defence, if he will make an estimate of the potential impact of exchange rate movements between the pound and the US dollar on foreign exchange costs incurred by his Department in the (a) 2021-22 and (b) 2022-23 financial year.

Answered on

17 October 2022

We do not routinely release forecast figures regarding exchange rate movements for the current or future financial years.

The MOD builds appropriate levels of contingency and risk into the Defence budget and equipment plan. We carefully monitor fluctuations in currency markets and take steps to protect our budget from short term volatility, including through forward purchase arrangements.

Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.