Note, I’m not at all an expert here. So take this all with a huge dose of salt:
I’d recommend using steel, or possibly titanium if you want to get fancy, ~1.5mm thick or a bit thinner (in the US, that’s 16 gauge or 18 gauge). I think it’s going to get pretty pricey regardless of method (waterjet, laser cutter, plasma cutter, ..??), probably at least $100 in the US, or possibly more, because one-offs don’t take all that much less overhead than big jobs. I have no idea what prices are like in the UK.
Since cutting cost dominates material cost and doesn’t differ too substantially by material, I think stainless steel makes more sense than e.g. mild steel. I dunno what kinds of finish your local shop can put on stuff, or if you want to paint your plate, etc. Really down to what the prices are and what your preference is.
If you want to save money, laser-cut acrylic is much cheaper. But also much less rigid.
1. You should go with laser cutting as I'm pretty sure it's more precise than waterjet
Waterjet can be very precise. I just waterjet some stuff myself today and got within about 1–2 thousandths of an inch on every measurement I checked, which is plenty accurate for a keyboard plate. There’s a substantial kerf on a waterjet, so you can’t get extremely sharp inside corners, but that’s usually not a big deal.