A plausible funding mechanism under the Third Sea Lord

The Third Sea Lord already controlled procurement, managed yards, dealt with industry, and possessed limited discretionary resources. Experience arguing for naval funds and managing a staff also made the Third Sea Lord's office a common route to the First Sea Lord's post. The proposed reform regularizes that authority: promising projects below a defined threshold could receive Treasury funding and then be reported to the Board of Admiralty. The approach leaves research with industry and moves official money one stage earlier into work that firms already considered promising. A modest staff reform beginning before Fisher became First Sea Lord would provide the personnel needed to assess projects and could also improve operational planning by connecting intelligence, logistics, and construction specialists.