Rapid Fire Jan. 10, 2013: Marching Towards March Madness | UK Major Projects
- Todd Harrison from the CSBA think tank explains [PDF] how the way the recent American Taxpayer Relief Act (ATRA) tinkered with sequestration affects defense. His estimate is $42.7B in cuts spread over the last 7 months of the current fiscal year, a couple billion dollars below Bob Dale’s number. But the revised base number for FY14 would be lower at $475.2B vs. $479B in the original sequester, and $533.6B in the FYDP.
- “March Madness” is the new “Fiscal Cliff”, as the US Congress is hooked to lousy sequels. Debt ceiling vs. sequestration are the bargaining chips that Democrats and Republicans say are off the table, but they will still have to use in the end.
“Forecast costs have increased by £468 million in the past year, which reflects a net increase of £637 million on three projects, including £336 million of forecast fuel inflation on the Future Strategic Tanker Aircraft, and a net decrease of £169 million on the remaining projects.”
- Haaretz has seen preliminary numbers from Israel’s Ministry of Defense that estimate the country’s armament sales in 2012 to be up 20% from last year to $7B – that is, back to 2009-2010 levels.
- Meggitt CEO Terry Twigger is retiring after 12 years. The company’s CFO Stephen Young will succeed him. FT.
- The Royal Canadian Air Force has a quick review of their 2012 search and rescue operations.