Chancellor John Healey has pledged a “new age of industrialisation” for Britain, announcing significant government backing for two major maritime projects to be built in British shipyards.
British shipyards will be at the heart of two maritime projects worth billions of pounds. The former defence secretary confirmed the multi-billion pound projects will be built by British workers, supporting jobs and a pipeline of small British businesses.
Healey, who was previously secretary of state for defence from 5 July 2024 to 11 June 2026, confirmed more support for Britain’s shipbuilding industry.
Central to the announcement is Programme Euston, a project to construct three new floating docks for the Royal Navy’s submarine service at HM Naval Base Clyde through a UK-only competition.
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.
“HM Naval Base Clyde is at the heart of our submarine service,” said defence secretary Wes Streeting. “Programme Euston will modernise it for decades to come, while backing British shipyards, workers and engineering.”
In addition to this, the Chancellor has also committed to funding for a new marine research vessel to be built in a British shipyard, backing coastal communities, sustainable fishing and long-term economic growth.
Set to be operational in the early 2030s, it will continue the delivery of core research, replacing the current vessel which is nearing the end of its life.
As announced, both projects will be delivered by UK companies.
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.”
He added: “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.”
