There is some truth in that, however the Tories 2010 defence review resulted in what is without doubt the biggest and deepest cut in UK armed forces capability since the fall of the Berlin Wall. No fixed wing naval capability, no indigenous LRMP (We are a FUC**NG island for heavens sake) significant reduction in personnel numbers, delayed and botched procurement of new systems, I could go on, I spent 47 years serving and working in the defence industry and the 14 years of the Tories was without doubt the worst period for cuts and budget reductions.
P.S. John Knott was a Tory, Rember him!