More British warships from the same budget

How many more ships could Britain obtain from the same budget if it ordered enough work to keep yards continuously occupied?

The rough estimate is a third carrier, Type 45s seven through nine, extra River-class patrol ships, and perhaps several more Type 23 frigates.

The figures are mental estimates rather than a costed force plan. They still show the opportunity cost attributed to deliberately slow construction: a third Queen Elizabeth-class carrier, three more Type 45 destroyers, additional River-class ships, and perhaps two to four more Type 23 frigates. The estimates compare the recorded cost and schedule with a steadier production cadence. They express the penalty in hulls rather than percentages.