A Washington Treaty that forced every capital ship to be rebuilt

What if the Washington Naval Treaty required every power to scrap all capital ships and build anew?

Britain would be the likeliest power to fund a full replacement fleet, probably building about fifteen 28-knot Nelson-style ships while retiring older classes in stages.

A treaty requiring every power to scrap its capital ships would create a huge replacement burden. Britain is judged the most likely power to secure the necessary budget, with a programme of roughly fifteen new 35,000-ton ships based on a 28-knot Nelson or Rodney concept. Construction would replace the oldest 13.5-inch battleships first, followed by the Revenge and Queen Elizabeth classes. Renown, Repulse, and Hood would survive until the end of the sequence, making this counterfactual as much a test of finance and industrial capacity as of warship design.