Most people here are interested in equipment, which is a fraction of the Defence budget. The equipment budget is around £240Bn over the next 10 years. £5Bn over two years?
But far far worse is the real cost outstripping inflation. We used to get DTI Indices, which was very often twice the inflation rate for aviation. 25 years of not getting that in the equipment budget has done enormous damage.
Add PFI to your list!