Let's start by turning the armed forces from a cost centre to a profit centre. That way we won't have to spend anything on them at all, or at least spend a lot less. We should learn from our country's proud traditions, and sell commissions to posh boys who don't know what to do with themselves.
We should also allow people and organisations (especially corporations) to sponsor units in the armed forces. There is a lot of space for logos to go on.