Interwar shipbuilding as employment and deterrence

Would an interwar Royal Navy without treaty limits cut training cruises and refits because Britain was broke?

No; Britain used public work and naval construction to sustain employment, so continued building, maintenance, and deployments could serve economic as well as military policy.

Britain did not simply lack the ability to fund naval activity. The state still used work camps and other employment measures, making ship construction and maintenance a plausible way to keep skilled labor employed. In a continuously building fleet, new ships would also create reasons for more, not fewer, demonstration and training cruises.