The government has commissioned reactors for new nuclear submarines, but says it will not make a decision on a like-for-like replacement in this parliament.Partly, this backlog is the product of the hung parliament, just as the Tories warned in 2010.
"In some ways, this backlog of matches has been good for the squad.
(In fact, because of this backlog, Mills's lawyers opted to pursue his commutation outside the official clemency initiative).
Sajjid Chinoy of JPMorgan Chase, a bank, attributes almost 30% of the peak-to-trough fall in the growth rate to this backlog.
We have a lot of other projects behind this, waiting in the backlog".
This way, all the work would be visible in the backlog.
Some in the backlog have been waiting up to 16 years for a decision.
Still, there was further erosion in the backlog besides the J.P. Morgan reversal, analysts noted.
"You have got poorly priced products in the backlog that, when you begin delivering, it pressures the margins".
"There's five years' worth of production in the backlog," he says.
