I think Richard takes a very pessemistic view of all this. Following the demise of the Soviet threat it was inevitable the RN would need to downsize its escort force- fifty small frigates couldn't be justified today- they are far to small to be of any use outside of Eastlant ASW duties. The RN is managing to reinvent itself (again) but warship contracts simply seem to take forever- non of the recent additions were quick. Ocean was first tendered in the late eighties whilst Bulwark & Albion were tendered in the early 90's- reaching service a decade later.
Its not just the UK either- Frances CdeG was first mooted in the 80's- iirc it took them around fifteen years to design & build it!
If we get the two QE's in service by the middle of the next decade we'll be doing quite well.