The UK government could end up losing billions of its taxpayer money because it has underwritten a major military deal to sell Typhoon fighter jets to Qatar.
In a report published Monday on its website, the Daily Telegraph cited unnamed officials as saying that “billions of Exchequer funding” could be lost if Qatar defaults on the massive agreement with UK defense giant BAE Systems.
The sources said the contract runs the risk of “skewing” the government’s credit agency “by concentrating about 25 percent of their portfolio risk in one transaction.”
It added that British taxpayers would need to support the deal which is worth £6 billion ($7.6 billion).
BAE Systems announced the hefty deal with Qatar in December 2017, saying it would provide Doha with 24 Typhoon fighter jets as well as a package comprising weapons, pilot training and maintenance. The contract will be implemented at the end of this year.
The UK government has…