No.

I might also ask how France can spend less than the UK and have more.
By this sort of reasoning, Thatcher should have been marveling at how comparably more powerful Saddam Hussein's military was.


France is one of the most militarily active countries in the world, and has been for decades. Their military budget has been continually growing. By comparison, the UK military is in 'maintenance' mode.

Rather than making arcade assumptions, compare the structures and doctrines (and procurements of the past generation) of the two countries and see what they are in fact spending money on. "War power" is not some generic resource with monotonic relationship to currency units.