Francis Tusa, editor of Defence Analysis, discusses the origins of so-called “black hole” in the British defense budget with Defense & Aerospace Report Editor Vago Muradian in Part 1 of his Sept. 11, 2017, interview with Defense & Aerospace Report Editor Vago Muradian. The interview was conducted at ExCeL London on “Day 0” of the Defense and Security Equipment International (DSEI) conference and trade show, which Defense & Aerospace Report is covering in partnership with DSEI and Clarion Events.