If this happens, then the chances are that (after massive intake of breath at MoD, much sniggering elsewhere in Whitehall, and huge "I told you so" here on PPRuNe) the money will be found to convert PoW to CTOL and, if the RN are lucky, convert QE II at her first major refit.
Er, no.
Its already been shown that we cannot afford the conversion. If the B is canceled, the carriers will be sold off, cheap, and the fantasy requirement for them forgotten. If we can survive with helicopters for years, then the argument to spend billions we don't have, on a dubious capability will be lost.
The general publics reaction to losing the carriers will be .. meh.