A Ministry of Defence spokesman said the underspend reflected better control of equipment projects and a conscious decision not to spend money on contracts until needed.
Rather than rushing money out of the door for the sake of it within a financial year, we are committing money as and when projects require it.
We make no apologies for having a proper grip on the equipment plan and running a tight ship with a cautious approach that, with the support of the Treasury, allows us to roll forward cash to next year, thereby ensuring the money will still be spent on equipment.
More top news
Frequent snowfall expected across much of the north this evening and strong northeasterly winds will make it feel noticeably cooler.
An Ofcom report says mistakes mean people relying on live subtitles had an 'inferior' experience to other viewers.
Waitrose is to scrap a hot drink free-for-all which allowed loyalty card holders to enjoy free drinks in its cafes without buying anything.