Why the Type 45 program cannot be judged from a £4.96 billion figure

Is £4.96 billion the right original cost baseline for the Type 45 programme?

The recalled expectation is roughly £8 billion for twelve destroyers, allowing for the programme's timescale and inflation.

The twelve-ship Type 45 programme is estimated here at roughly £8 billion, accounting for its timescale and anticipated inflation. The £4.96 billion figure is rejected as the appropriate baseline. Provisions for equipment that was not fitted reduced the delivered ships' cost. A claimed £1.04 billion overrun is discussed conditionally and treated as modest in the context of British defence spending.