The U.K. Is Facing Cost Overruns On Their Two New Aircarft Carriers

An artists' impression of the two new aircraft carriers, The Telegraph

Britain Must Renegotiate Flawed Aircraft Carrier Deals: Panel -- Reuters

(Reuters) - Britain should negotiate new contracts for two aircraft carriers and fighter jets to avoid the risk of budgets spiraling further out of control at taxpayers' expense, lawmakers said on Tuesday.

The project for the biggest ships ever built for the Royal Navy has fuelled broader criticism of the defense ministry's handling of expensive weapons programs at a time of spending cuts across the public sector.

The program has been dogged by rising costs, delays and indecision over the choice of aircraft since it was first announced in 2007.

In a highly critical report, a parliamentary committee said flaws in the original contracts meant manufacturers would keep making profits even if they go over budget, leaving the state to pick up the bill.

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More News On U.K. Aircraft Carrier Cost Overruns

Aircraft carrier fighter jet programme 'huge risk', warn MPs -- BBC
U.K. Reversals Over Aircraft Carriers Cost at Least $115 Million -- Bloomberg
MPs criticise Ministry of Defence over 'vulnerable' aircraft carriers -- The Guardian
Public Accounts Committee attacks MoD over spiralling costs of aircraft carriers -- The Independent
Basic accounting errors on carrier jets cost taxpayer £74m -- The Telegraph
Billions ‘wasted’ on new warships -- Express.co.uk
Royal Navy super-carriers bill soar by nearly TWO BILLION pounds -- Mirror.co.uk
'Basic' accounting errors such as not allowing for VAT led to MoD officials wasting millions on wrong carrier aircraft -- The Telegraph
UK Trying To Renegotiate Aircraft Carrier Contract, Report Says -- Defense News