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I want departments to be incentivised to drive efficiencies. And I want the Treasury to be an enabler for good, effective spending across government.
The refresh is an opportunity to help to deliver a vibrant, competitive and successful defence sector in the UK, contributing to the needs of our Armed Forces, allies and partners around the world as well as making a significant contribution to the UK’s prosperity.
At the NATO Defence Ministerial in Brussels last month the Sir Michael said that the UK will commit RAF Typhoon aircraft to Romania as part of the NATO Southern Air Policing mission to offer reassurance to Black Sea allies.
The government has therefore set new fiscal targets which aim for 2% underlying deficit and debt falling by 2020, and a balanced budget as soon as possible thereafter.
How this increase in funding will be allocated will be decided by Northern Ireland Ministers, and will be set out by the Finance Minister when he presents his budget to the Northern Ireland Assembly next month.
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