Bob Ainsworth (who? The defence secretary! What do you mean, who?!) has said the £36 billion defence budget will be "overhauled" (whatever that means). Trident would stay though they are now seriously looking into maintaining the deterrant with 3 boats instead of 4. The ongoing operations in Afghanistan would be the "principal commitment for as long as it takes".
So now we are in the peculiar position where Labour would maintain the nuclear deterrant and the armed forces (to some sort of extent) yet the Conservatives would cut... well anything. I don't believe either of them to be honest.
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