A real and meaningful "readjustment in force structures to equip the forces for a new and quite different future" would mean increases in FJ, helo. tanker force numbers to allow multiple and/or sustained simultaneous deployments without overstretch and without reliance on what may be temporary coalition partners. It would require Britain to have all of the required clubs in its golf bag, so you'd keep SHar and carriers and fund SEAD and recce. It would require greater investment in 'home defence', QRA, etc. It would be much more expensive than merely configuring your forces for Cold War requirements, though you might be able to shed some heavy armour, SSBNs, etc.
Therefore if Labour describe force reductions as "a readjustment in force structures to equip the forces for a new and quite different future" then they're being disingenuous tossers.
Just for a change.