Painful, but not fatal
As published originally at http://www.economist.com/blogs/blighty/2010/10/defence_review, Oct 19th 2010, 18:36 by M.S. | LONDON
“PAIN all around, but nothing fatal” appears to have been the guiding principle of Britain’s strategic defence and security review (SDSR), the results of which were announced by David Cameron today. The budget cuts – 8{33979494efa9b9c28f844b5c37a1ddedf4bb90a2eb3dac7a83ede58b7eac2e67} in real terms over the next four years – were not as swingeing as they might have been nor nearly as deep as the Treasury was hoping for. But the cash squeeze is nevertheless intense.