The British could afford to reduce defence spending in peacetime without excessive risk.

英国可以在和平时期减少国防开支，而不会引来太大风险。

He served during peace-time as an intelligence officer in the Navy.

他在和平时期担任海军情报官员。

...one of the greatest peacetime Prime Ministers of this country.

该国和平时期最伟大的首相之一