What would follow if Britain lost its battlecruiser squadrons and Fifth Battle Squadron while Germany lost its battlecruisers at Jutland?
Short answerBritain would launch a large replacement effort and could rebuild more readily than Germany, whose industrial capacity was much tighter.
NotesThe counterfactual gives both fleets severe battlecruiser losses and also removes Britain's Fifth Battle Squadron from action. Britain would respond with a major building programme and accelerate ships already under construction. Germany would struggle to restore its losses at the same rate. Replacement capacity was therefore part of combat power, beyond the ships present at Jutland on the day.