"The MoD do not have the money to maintain business as usual."
1) Increase the budget, and raise taxation in order to do so.
2) Spend money more wisely, by $hit-canning high profile, high-tech, cost-inflating prestige programmes like the new carriers, and Astute, by jettisoning irrelevant Cold War capabilities (Trident, heavy armour), and by managing programmes more effectively to avoid things like the Chinook HC3 fiasco, and to manage upgrades more like Jag than Tornado.
Don't throw away Tornado airframes with less than 3,000 FH on the clock and then spend millions on structural work on the higher houred jets that you do retain.
Don't throw away Jag airframes with less than 2,000 FH on the clock and then spend millions on rear fuselage replacements for shagged out Harrier GR7s.
Don't penalise the forces for maintaining sensible stock and spares by imposing inappropriate civilian accounting procedures.
Encourage IPT leaders to understand and assess risk properly, and to be intelligent customers, and maintain viable alternatives to giving all work to the OEM/DA.
3) Stop wasting money on PFIs that are more expensive in the long term than conventional procurements.