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

Chancellor John Healey will today unveil plans for a "new age of industrialisation" centred on British shipbuilding, with two major maritime projects worth billions of pounds. The initiatives aim to create high-skilled jobs, stimulate economic growth, and bolster the UK’s industrial and national security capabilities through sovereign production. Both projects will be delivered exclusively by UK companies, reinforcing the government’s commitment to prioritising domestic industry in strategic sectors.

The first project, Programme Euston, will provide three new floating docks for the Royal Navy’s submarine service at HM Naval Base Clyde via a UK-only competition. These facilities will enable essential maintenance, inspections, upgrades, and repairs for the UK’s nuclear submarine fleet, ensuring operational readiness and long-term capability. The investment underscores the importance of sovereign infrastructure for national security and industrial resilience.

The second project involves funding a new marine research vessel, scheduled to enter service in the early 2030s to replace the current vessel nearing the end of its operational life. The vessel will conduct core research on marine and ocean environments, supporting sustainable fishing practices, securing seafood stocks, and providing data for coastal community resilience.

Both projects will be executed by UK-based firms, aligning with the government’s strategy to utilise taxpayer funds to enhance national security while fostering job creation and economic growth in local communities. Healey emphasised the strategic value of investing in British shipbuilding to strengthen industrial capacity and future-proof critical sectors.