Italy seeks $8.1B increase in planned F-35 spending

Italy's government is seeking parliamentary approval for an additional €7.28 billion ($8.1 billion) in planned spending on its F-35 fighter jet program, raising its overall cost by more than 50%, according to a parliamentary briefing document.

The additional investment would bring the program's total cost to around €20.8 billion ($23.1 billion), compared with the €13.5 billion budget envisaged when it was approved in 2009.

The proposed funding would cover the period from 2027 through 2039. The government attributed the increase to technological upgrades, revised security requirements, inflation and changes in the euro-dollar exchange rate.

The proposal concerns the continuation of Italy's acquisition of the F-35 Joint Strike Fighter and the expansion of the associated industrial and technological facility in Cameri, northern Italy, according to the Chamber of Deputies' official record.

The draft ministerial decree, registered as Government Act No. 452, was submitted to parliament on Oct. 30 and referred to the relevant committees on Nov. 3.

The Chamber's Defense Committee has until Dec. 13 to deliver its opinion, while the Budget Committee's deadline for observations is Nov. 23. The proposal remains under parliamentary examination.

The planned increase comes as European countries step up military investment amid security concerns following Russia's war in Ukraine and calls for stronger European defense capabilities.