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:
“Mankind have such a deep stake in inward illumination, that there is much to be said by the hermit or monk in defence of his life of thought and prayer.”
—Ralph Waldo Emerson (1803–1882)
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—W. Somerset Maugham (1874–1966)