The suggestion that the building of the Indefatigable class HMAS Australia was a gift........is not quite correct
Detail below from Wiki below @ 2. confirms HMAS Australia contract cost was £2 million British pounds in 1910......the compound rate of interest between 1910 & 2014 is greater than 2262.8%
Accordingly.....the current cost would be greater than [2,000,000 x 2262.8] = [4,525,600,000] British pounds ...................
GIFT? 1. Indefatigable was part of the mess that was the 1908 estimates and the
other two were gifts so to speak
2. Bids for construction were forwarded to the Australian Government by Reid on 7 March 1910, and Prime Minister Alfred Deakin approved the submission by John Brown & Company to construct the hull and machinery, with separate contracts awarded to Armstrong and Vickers for the battlecruiser's armament.
The total cost of construction was set at £2 million. Contracts were signed between the Admiralty and the builders to avoid the problems of distant supervision by the Australian Government, and a close watch on proceedings was maintained by Reid and Captain Francis Haworth-Booth, the Australian Naval Representative in London.
I rest my case.........Derek