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With a PoD after 1945, how far can you make the United Kingdom fall in economic and diplomatic influence?

The United Kingdom must be recognisable as such. No significant territorial changes within the British Isles, and the general parliamentary form of government must remain. Abolition of the monarchy is permitted, but not Communist revolutions or thermonuclear wars. The reaction of a visitor from OTL should be "What the heck happened to Britain?", not "Where the heck am I"?
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