Minister rejects MPs' report warning of defence spending black hole

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Treasury minister Gareth Davies says he 'doesn't recognise' claims of a large black hole at the centre of defence spending.

A group of MPs warned that the UK has no "credible" plan to buy all the weapons it needs after a huge jump in the cost of the nuclear deterrent helped to create a record funding gap.

Inflation and a weak pound also contributed to the hole of at least £16.9bn in a rolling, 10-year plan to procure equipment for the Army, Royal Navy and Royal Air Force, the Public Accounts Committee said.

Mr Davies said: "We've got record funding going into our defence."

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