HMG has got itself into a presentational hole on the 2% target, especially after banging the drum about it so loudly at the NATO summit.
Even given what most would probably see as the "best" potential outcome of the post election spending review - ie a flat settlement overall coupled with maintenance of 1% real growth in capital spend - then defence spending will certainly dip well below 2%.
Hammond on Andrew Marr this morning went as far as to say "we are committed to the 2% target". Sounds encouraging but that's a carefully chosen form of words, as of course it's not a pledge to keep spending at 2% - rather it's an aspiration of the sort that may always remain some way off.
Even so, it's useful pressure that will hopefully prevent too much of an axe being taken to the defence budget - it looks a bit daft to be preaching the need for a 2% target while establishing yourself on a clear downward trajectory below it. And of course the more the economy grows, the bigger the shortfall will get.