If Germany stopped building battleships in 1910

How would Britain react if Germany stopped building battleships in 1910 and built only battlecruisers?

Britain would build more battlecruisers while continuing battleships for global commitments, potentially ordering four of each in a year.

An all-battlecruiser German program would not allow those ships to avoid the Royal Navy blocking access to the Atlantic. Britain would answer with more battlecruisers, especially because German examples were not fast enough to escape interception automatically. It would still build battleships against American, Japanese, Italian, and other capital-ship programs. Annual programs of four battlecruisers and four battleships were within British means. Germany changes the mix of British construction but cannot make the wider fleet requirement disappear.