Replacing Renown and Repulse after a 1936 collision

If Renown and Repulse were wrecked in a 1936 collision, should Britain rebuild them or use their displacement for new ships?

Use the displacement for new ships, either adding King George V-class hulls or accelerating two Vanguard-style battleships with the available 15-inch turrets.

The released treaty displacement would be better used for new construction than for rebuilding the damaged Renown and Repulse. Because the historical King George V orders began in 1936 and 1937, Britain could add hulls to that programme or start an emergency Vanguard-type design sooner. Salvaged 15-inch turrets would remove one major production delay and might put two four-turret fast battleships into service around 1938. A 30-knot capital ship with Vanguard-like protection could press Scharnhorst and Gneisenau much harder than the older British battlecruisers. Treaty accounting and available components would therefore shape wartime operational choices.