Both will survive for vary reasons:-
RAFAT is still a great
PR/Recruitment tool with links to industry including some corporate sponsorship.
BBMF is a 'museum without walls' and remains a tribute to the tens of thousands of young airman and support staff who perished during the Second World War. Last estimates put the total annual cost of BBMF at only £3M, most of which is regained through insurance costs paid by venue organisers.
If we really think that chopping both is going to magically fix the hole in the defence budget we are sorely mistaken - both outfits fulfill important roles.
Although if I had a choice then the Reds would go - BBMF cost peanuts and are a permanent reminder of sacrifices made.
"Lest we Forget"