Great Britain would be more directly damaged by the war. Against the Soviets, the superiority of the Royal Navy and the combined air forces of Western Europe largely protected the Home Islands from Russian firepower. A war against fascists, however, would probably be a war against a country closer to Britain, perhaps Germany or France.
I can see the British Empire being crippled by any large-scale war with a neighbouring industrialised country, given the damage of air attacks. Perhaps even enough to cause its collapse, rather than the gradual reforms of the last fifty years or so. Of course, we have the Conservative-BUF coalition to thank for keeping the empire strong and crushing the nationalist terrorist elements in Africa. A pity that we lost India, but it might be for the best that we removed ourselves from that quagmire. It certainly kept Malaya with us, in any case.
I can see the British Empire being crippled by any large-scale war with a neighbouring industrialised country, given the damage of air attacks. Perhaps even enough to cause its collapse, rather than the gradual reforms of the last fifty years or so. Of course, we have the Conservative-BUF coalition to thank for keeping the empire strong and crushing the nationalist terrorist elements in Africa. A pity that we lost India, but it might be for the best that we removed ourselves from that quagmire. It certainly kept Malaya with us, in any case.