A bit of good news amidst the doom:

http://www.telegraph.co.uk/news/newstopics/politics/defence/3702683/Worlds-most-advanced-destroyer-handed-to-Royal-Navy.html

"The Type-45 destroyer will be armed with Aster missiles which are capable of knocking down a cricket ball-sized object travelling at three times the speed of sound.

It is also the most eco-friendly ship ever produced for the Royal Navy, with a unique electric propulsion system that can ferry it from New York and back without refuelling.

The most powerful front-line warship since the Second World War has missiles capable of striking the most advanced "intelligent" anti-ship missiles that can travel at Mach 4. Daring is crowned by a huge 30-metre high Samson radar that can track more than 1,000 targets at once. The system is so powerful it can monitor all take-offs and landings from every major European airport within 200 miles of Portsmouth.

Officers claim that if it was stationed in the River Thames, its weapon system would be able to single-handedly destroy any incoming airborne attack on Greater London."

Not only that but it's keeping manufacturing and productivity alive in Glasgow and the UK.