When he became PM in May 1937, Chamberlain inherited a military neglected by PMs Stanley Baldwin (1923-29 & 1935-37) and Ramsey MacDonald (1924, 1929-35). He was no fool when he signed the Munich agreement with Hitler in 1938, as he knew Britain was not ready. But Chamberlain set to work, leading one of the largest rearmament campaigns of all time (Putin will have a equally massive postwar task rearming Russia), launching or laying down seven fleet carriers (Ark Royal, 5xIllustrious/Implacable class) and all five KGV class battleships. Chamberlain's government expedited the Spitfire, Hurricane and chain home radar programs that made Churchill famous. I've always thought that Chamberlain is unfairly tarred by us armchair historians.