§ Mr. Hancock
To ask the Secretary of State for Defence how much Smart Procurement has saved his Department since its inception; how much it is projected to save over the next five years; and if he will make a statement. 
§ Dr. Moonie
Since the introduction of Smart Acquisition, the Ministry of Defence has identified £2.4 billion of savings in equipment procurement in the 10-year planning period between 1998 and 2008. The savings are set out in more detail in the Comptroller and Auditor General's Major Projects Report 2001 which was published on 23 November. Some £1.5 billion of these savings were made against planned expenditure between 2002 and 2007. Over the last three financial years, savings on the costs of in-service support of equipment attributable to Smart Acquisition, have totalled some £350 million. It is anticipated there will be on-going savings of £250 million per annum over the next few years.
Work is also under way to develop broader metrics and targets for assessing the benefits of Smart Acquisition.