Royal Navy spending before the First World War

How did Royal Navy spending compare with Britain's national budget in peace and war before 1914?

The navy received priority and often a majority of defence expenditure, but within a peacetime defence budget of roughly three to four percent of overall annual spending.

Peacetime British defence spending was roughly three to four percent of the annual budget in the period discussed. The navy often received a large share of defence expenditure, sometimes around 55 percent, but did not consume the whole budget. This distinguishes naval priority from the much larger proportions implied by a fleet-building game. An enormous pre-1914 fleet still had to fit within political choices among naval, army, and civilian spending.