The last cababillity to loose for the UK should be it's ability to penetrate any defense and perform a mass slaughter on 100s of millions civilians. You know, that's the thing that makes Britain into a 1st rank millitary power.
This is the ultimate inssurence. Not having such a cabability in a forseeable future is the same as saying that britain is not a 1 rank power in a forseeable future, and as a pro-european I find that perspective unacceptable.
At the same time, the armed forces of Britain should be able to fight a modern war, if not for anything else then for the sake of being relevant next to the nuclear deterence. To my limited understanding, that requires cababilities to project power globally. And you need carriers and other navial assets as well as air force, soldiers and different forms of transportation for that.
So we need those carriers (in plural) as well.
Now I sound like a spoiled kid that wants it all, which is true. BUT the UK does spend a lot of money on millitary hardware and I am convinced that if these massive amounts of money were put to better use, than they are today, the UK could have it all.
There are obvious options on the table: industrial coorporation and millitary cooperation. And let's try to keep this in a euro-context since our economies are closely integrated and we have a very large set of common interests as well as political structures in place that can facilitate the coorporation.
That the MoD doesn't make costly mistakes like the Type 45 (surely a great ship, but not worth the cost - by a far shoot) or this ridicoulus "super lynx" project that for sure is also going to be a money sink.
Loosly speaking That the MoD buys/develops equipment that's 80-90% of need, and not 110% of need, in other words stop this drive to to make projects as complicated and high tech as possible, but instead build something that's cheaper, but still functionel.
That the best contractors get the work, within the above industrial coorporation,
That the MoD realises that defense - and not industrial subsidies - it it's purpose and if it has to be, that industrial subsidies are made with an eye to the future - not keeping dying industries afloat.