Janes predict Nimrod MRA4 cancellation?

If this news is correct, I can’t help but wonder how British Forces propose to protect UK waters, and our submarines, from enemy attack?
Surely any ‘saving’ would be short-sighted and short-lived, and all the money which has already been spent wasted, when another aircraft is either bought off the shelf or developed?
So far, the MoD has called the news ‘pure speculation’, which isn’t quite the same thing as saying it’s untrue…
http://www.janes.com/news/defence/jdw/jdw100716_1_n.shtml
http://www.forres-gazette.co.uk/news/fullstory.php/aid/6102/RAF_bosses__could_cut_Nimrod_contract_.html