Sunday, July 08, 2007

Report: UK has sold nearly $4.5 billion in assets to fund wars in Iraq, Afghanistan

Pictured: The Royal Military Asylum circa 1805 (above) which became the 'Duke of York's Barracks' and the Chelsea Barracks circa 1910(left) are among the historical sites sold for 'private development' to fund the wars.

The Ministry of Defence has sold off historic barracks and land worth more than £2.2 billion ($4.45 billion) to fund the spiralling cost of the wars in Iraq and Afghanistan.

Figures show ministers have met about half the cost of the conflicts by selling armed forces assets, including accommodation, airstrips, sports fields, military hospitals and firing ranges.

The true cost of the invasion of Iraq to topple Saddam Hussein and driving the Taliban out of Afghanistan has never officially been released, but the respected Iraq Analysis Group has estimated that the MoD has spent in the region of £5 billion to fund the wars.

Critics claim the money raked in by the Treasury should have been spent on better housing and equipment for troops.

Read the rest at the Daily Mail