Royal Navy naming practice is described as generally avoiding people currently in power, including reigning monarchs. The carrier Queen Elizabeth is identified with Elizabeth I. Its construction during Elizabeth II's reign caused confusion because the monarchs shared the name. The coincidence prompts a joke about cancellation politics, without establishing an actual budget decision based on it.
Notable Point · 58:56-59:37
Queen Elizabeth's namesake and Royal Navy naming practice
The carrier's Elizabeth I namesake illustrates how a naval name can be confused with a reference to a reigning monarch.