TL;DR:

Laid down 4 x Lake-class Frigates.  The War really showed how much the RAN needs to have a LOT of cruiser firepower, and the Lakes, with 12 x 180mm and a 120mm belt give an excellent balance of production cost for the firepower, armor, and speed they bring.
Completed the Mk2 Monarch BB pair, now the RAN has a cohesive battle squadron of 4 x BBs with 24kts, 9 x 360mm, and modern armor and FC, plus the older 280mm ships.
Continued work on the Town-class Emergency Cruiser Program trio.  Once they're complete I anticipate scrapping the last Toucans, as those venerable ships have a 16 year career that includes two war tours and they are thoroughly outdated.

Continue building BP

Start research on 1920 Signals and 1920 Capital Ship Arch. 
Continue additional research.  The big oddity at the moment is an early focus on improving land warfare capabilities, an increased army focus after the embarrassment of the Mayan War.

2 New AP, combined with the recently upgraded aircraft tech, to get our air forces to the excellence they require.