PARLIAMENTARY WRITTEN QUESTION
Ministry of Defence: Public Expenditure (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.

Asked by:
Pat McFadden (Labour)

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.

Answered by:
Sir Alec Shelbrooke (Conservative)
17 October 2022