It is a reasonable piece, but as others have said one cannot avoid the unpalatable truths;
1. There is no money, because much of it has already been spent on a replacement MPA.
2. He has studiously avoided the reason why MRA4 was cancelled, implying it was simply a savings measure. No one in the Treasury will swallow that one, no matter how hard he tries to protect and spin.
By avoiding these issues, he comes across as critical of Government for the decision. Perhaps a little honesty would serve better, like acknowledging the root cause was well known and advised in the early 90s, and those who knew were just waiting for it to happen. And if those papers have been "lost", you only have to read prune archives! After all, this is MoD's main source of Corporate Knowledge these days!