What if the final three R-class battleships had been completed as Renown-type battlecruisers?
Short answerThe Royal Navy would likely have a much faster capital-ship force and direct modernisation money toward its fast ships, changing its wider force structure.
NotesA five-ship battlecruiser force would give the Royal Navy more reason to modernise fast capital ships. Resources might have concentrated on the Queen Elizabeths and battlecruisers rather than slower R-class ships. The result would be a different mix of speed, numbers and carrier requirements before the Second World War.