£100 million F-35 Joint Strike Fighters more expensive per ounce than Gordon Brown's gold

July 20, 2012 7:12 PM

Defence Secretary Phillip Hammond has flown out to Texas for the official hand over ceremony to receive the first of the MoD’s eye-wateringly expensive Joint Strike Fighters (JSFs).

BAE Systems test pilot Peter Wilson said the plane’s stealth technology is "worth its weight in gold".

You’d hope so. Because, weighing in unloaded at 13,300kg each, if they were gold, the entire planes (not just the stealth bits) would cost about £475 million each. And that’s even at today’s extraordinarily high gold prices. But a decade ago when Gordon Brown sold 395 tonnes of Britain’s reserves at record low prices, you could have picked up a JSF made entirely from gold for about £80 million a piece.

The actual cost of the JSFs is over £100 million. Each.Defence Secretary Phillip Hammond has flown out to Texas for the official hand over ceremony to receive the first of the MoD’s eye-wateringly expensive Joint Strike Fighters (JSFs).

BAE Systems test pilot Peter Wilson said the plane’s stealth technology is "worth its weight in gold".

You’d hope so. Because, weighing in unloaded at 13,300kg each, if they were gold, the entire planes (not just the stealth bits) would cost about £475 million each. And that’s even at today’s extraordinarily high gold prices. But a decade ago when Gordon Brown sold 395 tonnes of Britain’s reserves at record low prices, you could have picked up a JSF made entirely from gold for about £80 million a piece.

The actual cost of the JSFs is over £100 million. Each.

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