Emily Thornberry – 2016 Parliamentary Question to the Ministry of Defence

The below Parliamentary question was asked by Emily Thornberry on 2016-02-09.

To ask the Secretary of State for Defence, with reference to the oral statement of 6 March 2014, Official Report, column 1077, on nuclear submarines, how much his Department set aside for financial risk provision within the submarine programme budget in each of the last six years.

Penny Mordaunt

At the programme level it is approximately 10% of the budget with a further contingency fund being available centrally. Risk management is an on-going process which is forward-looking by its very nature. Financial risk provision is a dynamic element of the overall programme budget; as risks are identified, managed, mitigated and retired the associated risk provision at various levels in the Department changes.