Ministry of Defence: Procurement

Ministry of Defence written question – answered on 18th December 2017.

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Photo of Deidre Brock Deidre Brock Shadow SNP Spokesperson (Devolved Government Relations), Shadow SNP Spokesperson (Fair Work and Employment), Shadow SNP Spokesperson (Northern Ireland)

To ask the Secretary of State for Defence, what effect the decrease in the value of sterling has had on his Department's procurement programme

Photo of Harriett Baldwin Harriett Baldwin The Parliamentary Under-Secretary of State for Defence

The Department addresses the impact of variations in foreign exchange rates as part of the routine financial management of the Defence Programme. This includes the forward purchase of foreign currency at agreed prices using the services provided by the Bank of England. The actual impact will only be known at the time the relevant financial transactions take place.

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