Defense is big business
Article Abstract:
The defense budget in Great Britain is over 17 billion pounds and slated to rise. Additionally 2 billion pounds worth of arms are exported. The Ministry of Defence is responsible for the defense budget which includes expenditures for equipment, weapons systems and personnel. The percentage spent on equipment and weapons has risen dramatically from 25% in 1965 to 46% in 1985. The Ministry of Defence is a large spender on research and development, and it is wondered if industrial spinoffs might not come out of this research in addition to the expected military results. The Ministry is the largest single buyer from industries in the UK, particularly the aerospace, electronics and shipbuilding industries. The government has attempted to use a profit formula to regulate the profitability of defense contractors with mixed success since profit rates for contractors have been regulated.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1986
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Weekends with a difference
Article Abstract:
The Territorial Army (TA), although functioning as a volunteer reserve force, operates as part of the British Army and is indistinguishable from the Regular forces. Aside from the traditional instruction on weaponry, the TA provides men with the opportunity of spending weekends canoeing, fell-racing, orienteering, and adventure training. Training is continuous and runs for a total of 20 days within a period of about six months, followed by a two-week course at the Royal Military Academy Sandhurst. Completion of these programs results in commission to the initial rank of Second Lieutenant and the designation of responsibility for the training and welfare of about 30 soldiers. Officers in the TA are paid at rates at par with regulars and are expected to devote an evening per week, a weekend per month, and two weeks a year of training to military exercises.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1991
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Preserving the future
Article Abstract:
The British Ministry of Defence (MoD) has a strong impact on the UK national economy and technological growth. MoD spends 18 billion pounds sterling annually, has 530,000 public sector employees, and provides industrial employment for about 400,000 workers. Defense accounts for about one-eighth of all of Britain's manufacturing production and one-third of all its engineering output.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
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