Issued by: HM Treasury

Two major maritime projects to be part of “new age of industrialisation” for Britain.

• Government backs British shipyards with multi-billion pound investment in three major maritime projects to strengthen national security, support skilled jobs and drive growth in every part of the UK.

• Chancellor confirms three new floating docks for the Royal Navy’s submarine service at HM Naval Base Clyde will be built in Britain supporting Britain’s defence industrial base and securing key sovereign capabilities.

• New marine research vessel to be built in a British shipyard, backing coastal communities, sustainable fishing and long-term economic growth.

British shipyards will be at the heart of two major maritime projects worth billions of pounds, helping to create high-skilled jobs, drive growth and strengthen the UK’s long-term industrial and national security capabilities.

Chancellor John Healey will pledge a “new age of industrialisation” for Britain today as he confirms the multi-billion pound projects will be built by British workers, supporting jobs and a pipeline of small British businesses.

Healey will confirm that the Royal Navy’s submarine service at HM Naval Base Clyde will receive three new floating docks - known as Programme Euston - through a UK-only competition, in light of their importance to national security and sovereign British industry.

The new facilities will provide crucial maintenance for the UK’s current and future fleet of nuclear submarines, allowing essential inspections, upgrades and repairs to be carried out.

In addition to this, the Chancellor has also committed to funding for a new marine research vessel to help protect our seas. Set to be operational in the early 2030s, it will continue the delivery of core research on our seas and oceans, replacing the current vessel which is nearing the end of its life.

The evidence it collects will help ensure the security of our seas, support sustainable fishing and give coastal communities confidence that fish stocks are being managed for the future.

Both projects will be delivered by UK companies, as part of a greater focus on how government spends taxpayers’ money to boost national security whilst also supporting British jobs and growth in local communities.

Chancellor of the Exchequer John Healey said:

“Britain has a proud shipbuilding heritage, and every pound of this strategic investment in a critical sector is backing British jobs on the Clyde and businesses across the UK, supporting growth in every postcode.

“By backing British shipyards, we are not only boosting national security but also securing resilience in the industries that will drive growth today while building the capabilities the country needs for the future.”

Defence Secretary, Wes Streeting said:

“Defence spending should make Britain stronger in every sense. That means backing British by buying British wherever our industry can deliver.

“HM Naval Base Clyde is at the heart of our submarine service. Programme Euston will modernise it for decades to come, while backing British shipyards, workers and engineering.

“That is defence driving the reindustrialisation of Britain and strengthening our sovereign capability.”

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