Britain could fund a dramatic modernisation of its armed forces today by reforming a bloated welfare state and ending the 'wastage' of billions on equipment, Defence Editor Mark Nicol has argued.

Downing Street had hoped to publish the Defence Investment Plan this week, amid dire warnings about Britain's ability to defend itself from Russia and other foes.

Britain could fund a dramatic modernisation of its armed forces today by reforming a bloated welfare state and ending the 'wastage' of billions on equipment, Defence Editor Mark…