Defence spending would increase. Bureaucracy, corruption and waste would be minimised, particularly as much of it is subversive in nature. All material and equipment would be manufactured in the UK.
Equipment would be of the highest standard. In the event we are unable to design items of the highest quality in a timely manner (The SA80 for example) we would seek to manufacture under license in the UK the very best foreign designed equipment.
People/companies will not make profits from wars. In the event of a war suppliers would be expected to maintain their peace time rate of profit. So if their net profit was £10 per item and we required ten times the usual number we would expect their profit per item to fall to £1. Any defence company found profiteering would either be nationalised or another supplier would be found. Directors of profiteering companies would be held liable.
All former military personnel would be guaranteed employment and training in the nationalised industry or government/council service of their choice. The current system wastes the talent and dedication of our service people quite deliberately.
The armed forces will no longer be sent on missions whose only aim is to waste the lives of patriots, rack up debt, make money for oil/defence companies and destabilise the world for the New World Order.