Why Britain built so many pre-dreadnoughts

Why did Britain build so many pre-dreadnought battleships?

Shipbuilding supported economic activity and displayed national power, allowing Britain to signal strength without first fighting a war.

The compact answer joins economic and strategic motives. Repeated orders sustained shipbuilding activity during ordinary economic conditions. A large visible fleet also demonstrated the state's capacity and willingness to maintain sea power. Building battleships could therefore communicate power before that power had to be tested in combat.