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It's Trident.
This is on top of £16B since the 2020 defence spending report, and £30-40B before that (Wikipedia is a bit fuzzy on some of it). This is sunk-cost spending (no pun intended). There's no other option except cancel the program.
...and none of it covers the missiles, which isn't an independent system.
We need to have much better government procurement oversight. Contract values need to be understood properly upfront. Bids are intentionally low, with companies knowing that once they're "in" costs can go up and they'll get paid. It's a well understood strategy, but it continually happens.
I really hate the whole "it's gone over budget" thing. If the budget doesn't mean anything then why even have it?
At least this is money primarily going to UK workers.
Trident pisses me off because it buys missile we're perfectly capable of designing and making ourselves. Relying on another nation for last resort national defence is bonkers if you have the choice.