The contract to build two large British aircraft carriers was so legally constructed they could not be cancelled, thanks to the UK's most powerful lobby, BAE. Instead we face the strong likelihood of having two carriers minus any aircraft to fly from them (assuming the F35 flies and is produced) and a nation unable for a host of reasons to put both into operational use.

I do not think it is a wise strategic choice to order the carriers, even more so given the state of the economy. An 'Air-Sea dominance' role is not one I recall being made much of, usually the very minimal debate has featured the flexible projection of influence and the power to intervene.

Defending the Falklands is a very low priority for the UK, despite the diplomatic noise from Argentina, which has neither the will or capability currently to use force and BA has stressed force is not an option.