[OldDeckHand]

This must mean that they aren't even going to build the second QE class of new carriers that are scheduled for the end of this decade. They've already announced the maiden ship will have the conventional assisted launch/arrested recovery system.

The British Navy is, for all practical purposes, going to be completely neutered.

[ErnstStavroBlofeld]

Only one carrier will be commissioned, while the other will be placed in “extended readiness” to provide a continuous single carrier strike capability when the other is in refit.

[gary_b_UK]

They are having to go ahead with building the second carrier because to cancel one or both carriers would cost more than building them, due to penalty clauses built into the contracts under the previous government.