http://www.mod.uk/NR/rdonlyres/790C7...per_cm7794.pdf
Could be summarised as do even more with even less because we tell you to and will magically make savings through restructuring of "head office" functions....
Alternately, we can do without some capabilities and reconstitute them as necessary (!!!!) given sufficient warning.
And laughably, the large scale operations appear to require more ships and aircraft than we actually have now!
Oh and none of this is to do with underfunding because since 1997 spending has risen in "real terms" by ~£2Bn. How could we possibly have failed to recapitalise the equipment budget given such munificence from the one-eyed forces friend.........?