Shipyards, not money alone, capped prewar British expansion

With extraordinary funding from 1908 to 1912, what would limit the number and size of ships Britain could produce?

The number and capacity of available shipyards, many of which were already operating at full output.

Yard capacity and efficiency become the binding constraints once funding ceases to be the problem. A rough expansion case adds about four dreadnoughts, four new heavy cruisers, many destroyers, and probably numerous submarines. Naval expansion depends on industrial slots and skilled throughput, not simply parliamentary authorization.