Even the C3 variants of the Type 26 might be a little bit on the large size. For duties like the Atlantic Patrol Task (North), formerly the West Indies Guard Ship, and various patrols and things things like anti-narcotics operations thye've generally been forced to use Type 22 or Type 23 frigates simply because that's all they have. Something like the Israeli Sa'ar 5-class corvette has always struck me as something that would be rather handy for second tier operations like that and generally showing the flag. Lower manpower, reduced size, smaller draught so it can go places that larger vessels like the current frigates can't - handy in places like the Gulf, might of helped avoid the HMS Cornwall debacle from a few years back. Of course it only really works it if you're going to buy enough of them to make it economical.
I agree that a Corvette would be better suited to patrol work and I think that in time thats what would be ordered. The reason I suggested using the older Frigates though is to keep the treasury happy. Far too often when the time comes to order new ships the Navy will ask for say 12 of the ships they need, the Government of the day will first say they're going to order 10, when the time comes to order the ships they'll actually order 8 and then later cancel 2, leaving the navy with half the ships they wanted.
This way when the type 22's really do need replacing the navy can say that they're not adding to the fleet but rather maintaining what capabilities they already have when they ask for new ships. To keep the decision making process to a minimum rather than ordering a new design the navy shoul select a type that is already being built for export like one of Vosper Thorneycrofts Corvettes. When the type 23s need to be replaced just repeat the order.
Incidentally because they will be operating in areas with a minimal threat of attack alot of the high tech equipment on the type 22s & 23s can be mothballed or removed reduceing the manpower requirements.
It's a pity the Navy sold off the Peacock class patrol ships as these along with the River class OPVs would have provided a usefull patrol squadron and the ships have many years life left in them.
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