Skint !
UK PLC is skint, broke , potless or what ever term you want to use whoever ends up in power you can expect a squeez on all public spending, the big problem for the readers of this forum is that they are an easy target.
The big issue is how much money will be cut from the UK defence budget not will one or other party cut spending.
Unfortunatly the place that could give real spending cuts without damage to the front line is the place that would be in charge of making spending cuts, but the MoD are hardly likely to chose to cut themselfs!
The places that I would like to see savings made would be, Defence contracts put out to more companies not the "usual suspects" who seem to charge a lot and deliver the least that they can get away with, the "elf & safety" police that spend a lot of money on the latest fad in buildings and infrastructure but compleatly ignore the front line kit because it is not part of their remit, and I would enforce defence contracts with a rod of iron as I see an attitude in the forces of "you cant win in a dispute with a contractor"............that must stop.
What I think I will see is the Puma force simply not replaced, the end of another fighter unit or two, the UAS disbanded and that is just in RAF terms I am sure the Army and Navy will be cut in the same way, what won't be cut is the big house in whitehall.