A Canadian Forces pilot has his picture taken in front of a F-35 Strike Fighter prior to an announcement in Ottawa, Friday July 16, 2010. A detailed report crunching all of the numbers, contingencies and eye-popping price points of the Harper government's cherished stealth fighter program is due to be officially made public Wednesday, but experts say it may have a short shelf life as the U.S. heads for its so-called fiscal cliff. THE CANADIAN PRESS/Adrian Wyld
December 12, 2012 - 12:29 PM
OTTAWA - A long-awaited KPMG report on the F-35 purchase says National Defence did not build a big enough financial cushion into the plan.
It says the $9 billion the department set aside may not be enough to pay for the planned 65 jets.
The report says uncertainties in the oft-delayed program could force the air force to cut the number of planes to 55 — or force the Conservatives to up the purchase amount by between $1.5 billion and $2.5 billion.
The Conservatives have said the $9 billion figure is carved in stone.
A series of reports were released Wednesday by the Public Works secretariat overseeing the replacement of the air force's current fleet of CF-18s.
One of the reports says the lifetime cost of owning the Lockheed Martin-built F-35s is estimated at $45.8 billion.
But the figures are based on a number of variables, including the notion that other allied nations will buy as many jets as they've promised.
News from © The Canadian Press, 2012