Canning CVF would leverage a big enough saving to fund proper SH, but I'd agree that the big savings come from cancelling JSF. I'm not suggesting that we bin one, but not the other.
Jackonicko
You just don't get it do you?!
For one claiming to be knowledgeable and well informed (with all the apparently reasoned information you are putting out in this thread), you should know that within MOD cancelling a programme definitely does not release funds for another project.
Cancellation means the money is never spent and never existed. What has already been spent is wasted. The whole military shrinks! If you lose CVF and JSF, your SH will still have to make do with whatever they've got. They certainly will not get any more funding! And the Typhoon fleet won't get any bigger either. When you lose something, all that really happens is the cost cutting knives re-focus on another project and expose a whole new tranch of entrenched positions and back biting.
The idea that everyone is competing for limited funds is driven by folk who would prefer to spend nothing on Defence. These are the people you are working for. You and your ilk picking a pet project or two and attacking the funding of everyone else is by far the biggest threat to your national security. Your argument for cancellation does not just apply to the projects you are attacking. It applies to the whole British Military!
Whilst the UK Armed Forces are out their doing there damnedest to keep things running and to achieve their nationally appointed missions within the constraints placed upon them by your leaders, I suggest no-one over there really wants to "bin" anything other than your ranting. If you believe in the British Military and want to help, back off!