The Search and Rescue service has been awarded to an American firm, bringing an end to seven decades of service by the military.
The Defence Secretary claims newspaper reports, which suggest jump jets will melt the decks of new carriers, are inaccurate.
Under the plans set out in the Strategic Defence and Security Review, the Army is to be reduced from 102,000 soldiers to 82,000
The closing chapter began today in the history of Britain's Sea King search and rescue helicopters - with the announcement that the service will be sold to an American company.
For thirty five years they have provided life saving help and for the past four - a job for Prince William.
ITV News Royal Correspondent Tim Ewart looks back on the Sea King's finest hours.
Today the first Arctic Star medals and Bomber Command Clasps will be presented to veterans by the Prime Minister.
- Veterans undertook what was dubbed "the worst journey in the world", delivering supplies to Russia
- More than 3,000 seamen died on the journey, which made sure Germany had to fight a war on two fronts
- The seamen delivered ships which carried crucial supplies, including 13,000 tanks, 22,000 aircraft and 417,000 motor vehicles
- Some 58 of the 811 merchant ships involved were sunk by German U-boats, battleships and Luftwaffe bombers
- With freezing temperatures of minus 20 degrees, anyone who fell into the water died within three minutes
- The men covered a 1,500 to 2,000-mile run across the North and Barents Seas, one of the deadliest convoy routes during the war
Prime Minister David Cameron will present the first Arctic Star medals and Bomber Command Clasps at Downing Street today.
Up to 250,000 veterans, and the families of those who died, are eligible to receive the new awards.
It comes after David Cameron's announcement in December that he was accepting the recommendations of a review of military decorations.
The government's plans to award veterans of the Arctic convoys campaign medals comes after years of campaigning. Servicemen past and present as well as local politicians had been locked in a battle to get those who served on the convoys recognition for their bravery during the second world war.
Living veterans and widows will be the first in line to receive the new medals. Production of the accolades is due to get underway soon.
Gosport MP Caroline Dinenage has welcomed the news that the Arctic Convoy Veterans of WW2 will begin receiving medals in recognition of their heroism and bravery.
– Caroline Dinenage MP
“I'm delighted that having finally made the decision to award the medal, the Government have turned the design and criteria around in rapid time.
"The Arctic Convoy veterans are all heroes in the truest sense of the word. After ten years of campaigning my delight to see justice finally being done is tinged with sadness that so many are no longer alive to receive the medals they richly deserved.”
The owners of Fort Halstead, the Defence laboratory in Sevenoaks, have begun discussing how they're going to develop the site. The MOD is relocating its operations to Portsdown West and Porton Down, leaving the buildings vacant. Public consultations will be held this month.
The Royal Navy's new aircraft carrier the HMS Queen Elizabeth will be assembled in Scotland. Parts of the ship are being transported from Portsmouth today. Our reporter Richard Jones is there to watch the operation take shape.