A Mackensen-only Germany still faces global British building

If Germany built two Mackensen-type battlecruisers each year but no battleships, what would Britain build in response?

Britain would still build 28-knot, four-turret battlecruisers at roughly four per year while its battleship program answered the United States, Japan, France, Italy, and Russia.

German concentration on two battlecruisers a year would reduce the direct battleship challenge without removing Britain's other rivals. British capital ships would still use the gun caliber selected against the wider world, while four triple turrets would provide the desired battlecruiser battery. A three- or four-ship annual battlecruiser program would contain Germany and supply hulls for global patrol and trade protection. An island empire with worldwide sea lanes cannot size its fleet against Germany alone.