Question to the Ministry of Defence:

To ask the Secretary of State for Defence, with reference to the Defence Equipment Plan 2021-2031, what assessment he has made of the potential impact of the change in the value of sterling against the US dollar between that plan's publication in February 2022 and the current exchange rate as of October 2022 on products that are imported under that plan; and whether additional funding will be required to meet the Department's spending commitments.

The Department continues to monitor recent fluctuations in currency markets and has built appropriate levels of contingency and risk to protect our budget from short term volatility, including through forward purchase arrangements.

The Equipment Plan for years 2022-2032, which sets out the funding requirements, is currently due for publication later this year.