The eight-wheeled Boxers would cost taxpayers at least £4 million each

The army is poised to buy a fleet of armoured vehicles from Germany for £3 billion in a deal that risks costing Britain an extra £1 billion and hundreds of jobs, The Times has learnt.

Military officials believe that the collapse of the pound after Brexit will force the government to delay or cancel projects that are not already on the books.

The Boxer: Rheinmetall’s armoured vehicle

As a result, the Ministry of Defence wants to fast-track the purchase of a fleet of up to 800 eight-wheeled infantry vehicles from Germany, according to defence industry sources.

The move would rule out a competitive tender for the contract involving at least four other potential bidders, including a British company. Industry insiders claim that the deal could be done for £1 billion