"...Using QE initially with the Harriers and then equipping the PoW with cat 'n' traps for the F-35C..."
Sounds possible I guess, but depending on when a CATOBAR PoW with F35C would achieve initial operating capability, it would involve running Harrier on for an awfully long time. Is that plausible?
Also even if PoW is the cheaper ship, the currently quoted bill for the two will take account of that. Conversion to cat and trap would send the current figure northwards, and further delay would presumably add more still.
Given Fox's words I'm even more intrigued to see how this particular circle will be squared