The scenario eventually reaches Nelson and Rodney, whose machinery might also be worth replacing if the new boilers can provide a large enough benefit. The engineering opportunity does not remove the budget and dockyard constraint. A wider refit program could displace new carriers or capital ships, or it could keep yards open that Britain was still paying to close in the mid-1930s. The Treasury might accept near-term modernization in the hope that a visibly stronger fleet delays later construction, even though the coming war would defeat that expectation.
Notable Point · 1:12:30-1:14:26
Nelson refits compete with new construction
The better machinery makes Nelson and Rodney candidates for modernization, but every refit consumes dockyard capacity that might otherwise build carriers or new capital ships.