Here is what the MoD have to say about said issue:-
Allegations army parachute training is to be cut
Various newspapers report that leaked MOD documents outline that parachute training in the Army is to be halted for four years as part of a £1 billion cost-cutting programme by the MOD. The MOD does not comment on leaked documents. What we can say is that the MOD does not expect to overspend in the current financial year and, as we do not yet have a budget set for the Financial Year 07/08, it is bizarre to claim a predicted overspend. The future Defence budget will be set in the Comprehensive Spending Review next year and we are currently developing plans to ensure that next year's programme is affordable and allocated in line with defence priorities.