Well, reported on the 5th Jan 18 that Mrs May has decided to delay the Defence review by "months". This seems to be a stalling measure because Gavin Williamson has claimed he needs more time to study the problems and the "£20B" black hole in defence budget. It is reported that there is a huge divide between the views of Hammond and Williamson.
It does seem to me that, it is unlikely Williamson will avoid the financial cuts. However, it is possible that the extra time will allow some focused redefinition of UK Defence needs that avoids the gradual hollowing-out of all capabilities.
OAP