Defence Spending
The UK's Ministry of Defence was originally the mainstay of Gibraltar's economy but this has greatly reduced to around 6% of the GDP. In 2006 the MoD announced that it would contractorise the provision of services to the military base to make further cost savings. This was finalised in January 2007.
Read more about this topic: Economy Of Gibraltar
Famous quotes containing the words defence and/or spending:
“He that rebels against reason is a real rebel, but he that in defence of reason rebels against tyranny has a better title to “Defender of the Faith,” than George the Third.”
—Thomas Paine (1737–1809)
“Poor Henry, he’s spending eternity wandering round and round a stately park and the fence is just too high for him to peep over and they’re having tea just too far away for him to hear what the countess is saying.”
—W. Somerset Maugham (1874–1966)