LONDON, Dec 4 (Reuters) - Britain's armed forces face an equipment funding shortfall of 17 billion pounds ($21.6 billion) over the next 10 years, a public spending watchdog said on Monday, a concern for defence chiefs at a time of heightened geopolitical risks.
The National Audit Office (NAO) put the estimate for the budget for new weapons and equipment at 305.5 billion pounds for 2023-2033, 16.9 billion pounds over budget, the largest deficit since its first report in 2012.
Russia's war in Ukraine has highlighted the need for extra military spending across Europe, with Britain an important ally and provider of military equipment to Kyiv.
The government raised spending on defence by an extra 5 billion pounds earlier this year, increasing it to about 2.25% of gross domestic product this year and next.
"The Ministry of Defence acknowledges that its Equipment Plan for 2023–2033 is unaffordable," NAO head Gareth Davies said in a statement.
Persons:
NAO, Grant Shapps, Shapps, Gareth Davies, Sarah Young, Bernadette Baum, Timothy
Organizations:
Audit, Soaring, Ministry of Defence's, Defence, Ministry, Timothy Heritage, Thomson
Locations:
Britain, Ukraine, Europe, Kyiv