2 min read - 29 Sep, 2026
Government pledges multi-billion pound boost for British shipyards
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 has pledged a “new age of industrialisation” for Britain as he confirms the multi-billion pound projects will be built by British workers, supporting jobs and a pipeline of small British businesses.
On Monday, Healey confirmed 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, reflecting their importance to national security and sovereign industry. The new facilities will provide vital maintenance for the UK’s current and future fleet of nuclear submarines, allowing essential inspections, upgrades and repairs to be carried out.
In addition, the Chancellor has committed funding for a new marine research vessel to protect Britain’s seas. Set to become operational in the early 2030s, it will replace the current vessel, which is nearing the end of its life, and continue delivering core research across home waters. The evidence it collects will help ensure sea security, support sustainable fishing and give coastal communities confidence that fish stocks are being managed for the future.
The government is backing British shipbuilding with a multi-billion pound investment in two major maritime projects / Picture: Getty/iStock
Both projects will be delivered by UK companies as part of a greater focus on directing government spending towards national security while driving economic growth and creating jobs in local communities.
John Healey, Chancellor of the Exchequer, 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.”
Wes Streeting, Defence Secretary, added: “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.”
