Defence Secretary Philip Hammond
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'Yawning black hole' filled in MoD budget - Hammond

The Ministry of Defence has balanced its budget for the first time in a decade, the defence secretary has said.

In a statement to the House of Commons, Philip Hammond said the £38bn deficit would be eliminated as a result of the government's savings, including redundancies and procurement changes.

The defence secretary added that forces would be well equipped and funding would be put on a sustainable basis.

  • 14 May 2012
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