Chancellor pledges “new age of industrialisation” as Government backs British shipbuilding

British shipyards are set to benefit from multi-billion-pound investment in major maritime projects as the Government looks to support skilled jobs and domestic industry.

Chancellor John Healey confirmed that three new floating docks for the Royal Navy’s submarine service at HM Naval Base Clyde will be delivered through a UK-only competition.

Known as Programme Euston, the facilities will be used to carry out inspections, upgrades and repairs on the UK’s current and future nuclear submarine fleet.

The Government has also committed funding for a new marine research vessel, which will be built in a British shipyard and is expected to become operational in the early 2030s.

Both projects will be delivered by UK companies, with the Government saying the investment would support jobs within shipyards and their wider supply chains.

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