The announcement came as senior defence sources said that the Government was stepping up the talk of war to keep up the pressure on Saddam Hussein to abide by the United Nations resolution on weapons inspections.
The size of the contingency fund also appeared to confirm that the Government was looking at the largest end of the options available to it despite reported attempts by Gordon Brown to cut the size of any deployment to save costs.
Defence sources had said that the Ministry of Defence’s projected budget of about £1.5 billion for military action and a post-war occupation force led Mr Brown to suggest that plans to deploy a “light” British armoured division should be dropped.
But although the size of the war chest, which Mr Brown said was for Britain’s “international defence responsibilities”, is not likely to be enough, it is probably the most the MoD could have hoped for.
- A billion for the war chest, Telegraph.co.uk, November 38, 2002.
2. Evolve IP, backed by newly raised private equity funding, has a $100 million war chest for potential acquisitions. The cloud services provider, based near Philadelphia, is speaking with about six to eight IT service providers at the moment and mulling potential acquisitions, CEO Thomas J. Gravina confirmed to ChannelE2E.
As part of the M&A discussions, “we’re spending a lot of time and energy on culture,” Gravina adds. “Sure, we’re very interested in their products and services. But business culture — where Millennials and Gen X have authority, responsibility and autonomy — is very important to us.”
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