One thing which I haven't had a chance to figure out yet (drawing up the will to look at the figures in detail...) is if the 8% cut is in cash, or inflation-adjusted terms. For example, the science research budget has been given flat-cash settlement, which the govt. can claim is not a cut, but in real terms will equate to about a 10% cut over the CSR period. What I'm wondering is if the 8% defence cut is actually more like 18% in real terms. Not that it makes any difference to the capability / people / equipment that we're waving goodbye to, but I'd be interested to know how weasely they're being with the numbers.