Did I say Typhoon?
No.
I said Carriers and A400M.
Defence cash can be spent on better things. Mainly battle-tested things like the Americans produce, instead of crap produced (not talking systems and weapons here) by Europe and the UK.
And seeing as we are looking at the worst financial crisis since 1929, we need to save every penny we can. Therefore, pay for the capabilities we are most likely to need, not the capabilities that will keep Labour constituents in work.