With the squeeze on public expenditure well and truly on, is it time to look at the Trident project? Obama's speech on nuclear disarmament has changed the context in which nuclear policy should be viewed. Clearly the need to look again at 'big ticket' arms expenditure requires us think carefully about the options. The decision to accept the present 'wait and see policy' was taken by a narrow margin after a good deal of leadership lobbying. If the party was given the opportunity to look again at its spending priorities in the new political context I wonder what the outcome would be?