United Kingdom · Question · Written question
UIN 65950
Defence: Procurement
Introduced
29 June 2020
Last action
2 July 2020 · Answer
Status
Answered
Sponsors
—
Subjects
Defence
Source updated
2 July 2020
Summary
To ask the Secretary of State for Defence, what steps his Department is taking to mitigate the risks of cost increases on his Department's spending as a result of exchange rate fluctuations.
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Timeline
29 June 2020
Written question
To ask the Secretary of State for Defence, what steps his Department is taking to mitigate the risks of cost increases on his Department's spending as a result of exchange rate fluctuations.
Source: Commons
2 July 2020
Answer
We mitigate the impact of foreign exchange using forward purchase contracts agreed with the Bank of England. This mechanism provides increased budget stability in the forward programme and is not intended to generate gains or savings from the foreign exch...
Source: Written answer
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Sponsors
- · Ministry of Defence · Answering body
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2020-06-29/65950
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1218782
- uk · wq-1218782 · source updated 2 July 2020