Refurbished ex USAF F16s ?
Well, “Low Cost” and “Combat Aircraft” on the same page of a wish list is a bit of a stretch.
I do remember a chance conversation with a senior BAE Systems chap a few years back that touched on this subject. He made the rather telling point that anyone committing to developing a new aircraft would likely have to complete against the US selling off refurbished ex USAF F16s.