For too long now the UK Government(s) have been playing at being a top 3 world power on a top 30 budget. Additionally constrained by equipping our forces with kit that was produced by our own money, too late costing too much and not using 'the best kit for the job' as criteria. Time to wake up.
Either;
1. Stop playing at it, do it properly and fund it.
2. Accept that we are f****ed as a global power (and we are by the way) and cut the forces to the level required to give a token defence of our country. Including the removal of the preposterous UK 'Nuclear Detterent'