The proposal accepts a slower pace of British debt repayment rather than a return to the pre-1914 dreadnought race. A steady capital-ship program would keep yards, suppliers, research, and design work active. That spending would also circulate through the economy, especially when governments confront a downturn. Construction limits therefore determine whether a state preserves the industrial capacity it may later need.
Notable Point · 29:22-30:24
Shipbuilding as interwar industrial policy
A controlled capital-ship program could preserve design skills, suppliers, and research while also supporting the wider economy during a downturn.