Britain reins in defence equipment costs and project delays

LONDON (Reuters) - Britain's Defence Ministry has begun to improve the way it handles major procurement areas, but must still do more to keep costs and delays under control, parliament's spending watchdog said on Thursday. MPs and state agencies have frequently criticised the Ministry of Defence (MoD) in recent years for letting costs and timelines on multi-million dollar programmes run out of control. That criticism has grown more acute as Britain struggles to rein in a big budget deficit through state spending cuts that have squeezed voter incomes. ...