Some needs shooting, again!
Whenever I hear of a major defence program I know I will hear the words "Overspend" (generally in the order of 200%), "Cost over-run", "Delay" (ten years appears to be the norm), "Re-design" (several times) and regularly "Cancellation". The MOD could do us all a favour getting rid of Procurement, by burning say £10 billion in a hole in every time they announce a new project and just buying from the Americans immediately. I doesn't do UK plc much good, but the current system can't help it much either.
So to be honest, this is only the second or third iteration of the "We've buggered it up again!" from Whitehall. We have got to waste a full £100 billion, delay the program for another ten years and then find out the basic design wrong was initially flawed and re-design it before we can even think of cancelling the project.
The MOD (an offshore extension of the US arms industry) have, and will continue to bleed all three services dry until they are reformed.
PM