§ Baroness Serotaasked Her Majesty's Government:
What is the latest estimate of the cost of the Trident acquisition programme. [HL2363]
§ The Minister of State, Ministry of Defence (Baroness Symons of Vernham Dean)The current estimate of the total acquisition cost of the Trident programme, with payments already made expressed at the prices and exchange rates actually incurred and future spend at the current financial year exchange rate (the hybrid estimate), is now £9,745 million. Leaving aside the effects of price inflation ( + £12 million), there has been a real cost reduction since last year of £23 million. Expenditure on the Trident acquisition programme to 30 September 1999 represented some 96 per cent of this estimate. If all expenditure, past and projected, is brought up to the current year's economic conditions (the non-hybrid estimate) the estimate is £13,170 million.
£ million US UK Total Estimate Table (hybrid) Previous estimate (April 1999) at 1998–99 economic conditions (£1 = $1.6269) 2,873 6,883 9,756 Real changes -16 -7 -23 Price inflation on unspent balance + 2 + 10 + 12 Exchange rate variation 0 n/a 0 Revised estimate at 1999–2000 . economic conditions (£1 = $1.6269) 2,859 6,886 9,745 Estimate Table (non-hybrid) Previous estimate (April 1999) at 1998–99 economic conditions (£1 = $1.6269) 3,448 9,423 12,870 Real changes -16 -7 -23 Price inflation on unspent balance + 64 + 258 + 323 Exchange rate variation 0 n/a 0 Revised estimate at 1999–2000 economic conditions (£1 = $1.6269) 3,496 9,674 13,170 Note:
Figures rounded to nearest £ million, hence any apparent imbalances.