Departmental Capital Investment

Defence written question – answered on 21st January 2008.

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Photo of Liam Fox Liam Fox Shadow Secretary of State for Defence

To ask the Secretary of State for Defence what (a) percentage and (b) value of his Department's (i) current and (ii) capital expenditure was paid for in (A) euros, (B) US dollars and (C) other foreign currencies in each year from 1997-98 to 2006-07.

Photo of Bob Ainsworth Bob Ainsworth The Minister of State, Ministry of Defence

The Department records all expenditure in its books of accounts in sterling, including that incurred in foreign currency. The values recorded in the accounts are the expenditure in currency converted at the general accounting rate (GAR) for the relevant month. All GARs are based on the cost to the Department of the actual purchases of the individual currencies.

The net cash requirement (NCR) reported in the departmental resource accounts reflects all cash expenditure incurred by the Department in a year, both current and capital, in all currencies. There is no central analysis by currency of the split between current (revenue) and capital expenditure and this information could be provided only at disproportionate cost.

The overall expenditure in US dollars and euros is shown as follows and as a percentage of the NCR in each year. Details of actual US dollars and euros expenditure for years prior to 2000-01 is not held centrally and could be provided only at disproportionate cost.

US dollar expenditure Euro expenditure
Value (£ million) Percentage of NCR Value (£ million) Percentage of NCR
2006-07 1,567 5.0 1,389 4.4
2005-06 1,384 4.5 1,384 4.5
2004-05 1,239 4.2 1,244 4.2
2003-04 1,355 5.0 1,090 4.0
2002-03 1,224 4.7 911 3.5
2001-02 1,190 4.8 730 2.9
2000-01 1,204 5.1 719 3.1

Aggregate expenditure in other currencies is relatively small and is less than 1.5 per cent. of NCR in each of the years shown in the aforementioned table.

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