A Royal Navy without London construction limits

In this counterfactual, Britain responds to depression-era unemployment with naval construction unconstrained by the London treaty. New cruisers replace the First World War survivors before the next conflict, while additional destroyers and sloops provide a larger escort force. The projected fleet would reduce the need for V and W conversions and potentially the emergency demand for Flower-class vessels. Capital-ship restrictions could still remain for a time, so the proposal concerns freedom to renew smaller ships. These are projected consequences of a different policy, qualified by the reminder that neither politicians nor historians can know the future.