How delaying aircraft carriers can increase procurement costs

Delaying construction can move expenditure between budget periods while increasing the eventual programme cost. The aircraft carrier programme illustrates the criticism that immediate spending constraints created a larger overall bill. Limited Type 45 numbers and gaps between frigate orders provide the surrounding context of reduced fleet investment. The carrier comparison is an acknowledged simplification of a complicated funding history, and its estimate of additional ships is illustrative. The underlying budget incentive is to postpone costs even when delay makes the completed capability more expensive.