Battleship growth without Washington and London

Where might battleship size and armour have gone by 1939-41 without the Washington and London treaties?

Typical new battleships could have reached about 50,000 to 55,000 tons, with Britain more able than Germany to sustain the continuing race.

Political reluctance and financial capacity were separate constraints. Britain would prefer other uses for the money but could repeatedly find funds for maritime supremacy. Germany's attempt to match that pace was much more likely to become ruinous. Without treaty limits, ordinary front-line battleship designs could reach roughly 50,000 to 55,000 tons by 1939-41.