The Elephant in the MoD
THE FEBRUARY 1 BUDGET HIGHLIGHTED what will be the defence ministry’s biggest worry in the years ahead—for the first time, expenditure on defence pensions overtook purchases of military hardware like fighter jets, warships and battle tanks.
The defence budget is split into three major heads—revenue, capital and defence pensions. These are what the military spends on maintaining its existing forces, buying new hardware and paying pensions, respectively. The total defence budget grew by
