Here's my fear. Osborne is back to the wall over his tax credit reform. Opposition to Trident replacement is mounting - the £B 167 figure is scaring the horses. The Government has gone very quiet on F-35 costs. A few other things that you don't need me to tell you about. So how is another big spending announcement going to go over?
If existing programmes survive SDSR in tact I shall be pleasantly surprised. It's not too hard to see where savings might be made within the RAF. The Army losing "boots" is simple to politicians. Cuts to the Navy are more difficult for me to understand, but the capital commitment (carriers, some fixed wing assets and the Trident thing) is bound to be attracting attention.
It's all too much, no matter what the sensible thinkers here would wish for. If the 2% thing stands, someone needs to start getting out their calculator and find enough savings to balance the committed spendings and another new programme.
P.S. Don't shoot the messenger. I feel the same angst as you. We need an MPA.