27 March 2003
Chancellor Gordon Brown has allocated an additional £1.25 billion to the Ministry of Defence to be used as necessary for operations in Iraq. The funding increases reserves for the conflict to £3 billion.
In a statement made in the House of Commons, the Chancellor said:
"I think the whole House will want to make clear our gratitude to our armed forces, our determination to ensure they are fully supported and will want to send our condolences to the families of the 22 British servicemen who have lost their lives."
An extra £120 million was allocated for the Department for International Development towards humanitarian relief in Iraq.
Mr Brown outlined how frozen Iraqi regime funds will be returned to the Iraqi people earlier this week following discussions with US Treasury Secretary John Snow. The Chancellor confirmed that:
- the UK is committed to take whatever steps are necessary to ensure the funds frozen in the UK linked to Saddam Hussein and his regime are used for the benefit and welfare of the Iraqi people;
- the UK joins the US in calling upon the world to track down and freeze any remaining funds of the Iraqi regime in line with international obligations; and
- the Bank of England has asked all banks in the UK to double-check as a matter of urgency the origin of any Iraqi funds held.
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