Tag: military spending

• Friday, May 20th 2011 - 10:42 UTC

  Piñera submits bill to repeal financing military expenditure with copper exports

  

  Chilean President Sebastián Piñera signed a bill which, if approved by Congress, would eliminate a substantial source of revenue for Chile’s Armed Forces. Under current legislation, 10% of all export revenues from Chile’s National Copper Corporation (CODELCO) are directed to the Superior Council of National Defence, to be spent on weaponry and equipment.