Departmental Public Expenditure

Defence written question – answered on 30th March 2010.

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Photo of Philip Hammond Philip Hammond Shadow Chief Secretary to the Treasury

To ask the Secretary of State for Defence whether his Department has incurred expenditure on (a) foreign exchange derivatives and (b) consulting on currency hedging strategies in each of the last three years.

Photo of Bob Ainsworth Bob Ainsworth The Secretary of State for Defence

The Ministry of Defence (MOD) incurred expenditure as a result of foreign exchange derivatives in 2007-08 but this has been more than offset by gains in both 2008-09 and 2009-10. In the same period the MOD did not incur any expenditure on consultancy support for its currency hedging strategy.

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