If you really think the country is that broke, then there are an awful lot of other things that need to be cut too, with something like £660 bn spent in 2010 and £680 or so forecast for 2011 it'd be a drop in the ocean. The "Nimrod cost" for one year would cover it quite easily, with plenty left over for a new set of plasma TVs for the HQs.
It's a 'one off' cost, where we'd be helping high quality people make up for wasting the early years of their lives on something the MoD mismanaged. On the plus side, unlike most such handouts, the result would be a bunch of guys earning darn good wages and feeding a substantial amount back in taxes year after year.
Try not to think in such short terms,
Dave