I believe the actual spending review comes out sometime within the next month.
At a guess I'd say we'll see the navy take the brunt of it because they're the ones with the most expensive projects on the go right now. The Darings will probably get chopped from six to four, the Astute will go from seven to five, we'll probably lose a Vanguard, either to scrap or conversion to an SSGN and we might lose a QE carrier, probably the Prince of Wales.
The RAF will get a reduction in the Attack squadrons no doubt, but there's not a lot of fat there left to trim so it'll probably be merging of squadrons, or alternately a merger with the Army...that's been talked about I know.
The Army will fare better than most because a) they've already suffered a large share of cuts, and b) they're the most in use force at this time in Afghanistan, so the government can't actually cut back to any major extent on the Army without endangering the Afghanistan mission.
Of course, I could be wrong...in many areas I hope I am wrong, but the writing seems pretty clear on the wall. All part of the governments grand scheme to reduce unemployment and encourage people to get back to work by cutting jobs or forcing companies to cut jobs.
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