Splash the Cash?
THS, 'splash the cash'? Did you miss the Comprehensive Spending Review news?
A 1.8% increase next year to £34bn equates to a c6.2% decrease in real terms (if Defence inflation is assumed to be running at c8%). Superimpose upon that the early costs of the new carriers (and C17s) and there'll be no money left for anything else. I would imagine that all 3 services will each have to make c£0.5Bn savings in year. I would imagine there is plenty of debate going on now over the massive activity cuts that will be necessary to meet the savings (which, let us not forget, comes on the back of several years of savings imposed by the former Chancellor).