nuclear-news

$1000 billion on nuclear weapons to be spent by Big Powers over a decade

Nuclear powers expected to spend $1,000bn FT.com, By James Blitz in London June 19 2011  The world’s nine nuclear-armed powers are set to spend a total of $1,000bn on the procurement and modernisation of atomic weapons programmes over the next decade, according to an anti-nuclear weapons group whose cause has won high-level US support.

Global Zero, which is campaigning for abolition of the world’s nuclear arsen­als by 2030, will host a London conference this week attended by senior Russian, Indian, US and Chinese figures, among others. It aims to highlight how the cost of nuclear weapons is becoming ever more unaffordable for states whose defence budgets are hard pressed by the financial crisis.

According to the organisation, the nine nuclear states – the US, Russia, China, the UK, France, Pakistan, India, Israel and North Korea – are set to spend $100bn between them on nuclear arms programmes this year.

The figure comprises the cost of researching, developing, procuring and testing nuclear weapons.Global Zero calculates that the states will spend the same amount in every year of this decade.

The organisation says spending on atomic weapons accounts for about 9 per cent of total defence spending in these countries – a proportion set to rise because budgets for conventional military hardware are being cut back in many countries….FT.com / World – Nuclear powers expected to spend $1,000bn

June 20, 2011 - Posted by Christina MacPherson | 2 WORLD, weapons and war