Britain unveils £8.4 billion boost for nuclear submarine fleet

Britain announced an eight-point-four billion pound investment for its nuclear submarine program. This significant funding will support twenty-two thousand apprenticeships over the next decade. BAE Systems will receive the majority of the funds f...

Reuters
Britain announced an eight-point-four billion pound investment for its nuclear submarine program. This significant funding will support twenty-two thousand apprenticeships over the next decade (Image for Representation)
London: Britain announced Wednesday £8.4 billion ($11.2 billion) investment for the next phase of its Dreadnought Class nuclear submarine programme, which the government claims will support 22,000 apprenticeships over the next decade.

"A major £8.4bn investment in the UK's nuclear deterrent, delivering jobs and opportunity for young people for years to come," was set to be announced by Prime Minister Andy Burnham, his Downing Street office said in a press release.

Also Read: India’s underwater strike capability faces gap: Indigenous nuclear-attack submarine likely only by 2036


UK defence contractor BAE Systems has been tasked with delivering four Dreadnought Class nuclear-powered submarines as part of Britain's nuclear deterrent.

Of the £8.4 billion, BAE was set to receive £5.9 billion, with the remaining going to the wider supply chain.

The investment was set to help the first of four submarines, the HMS Dreadnought, complete its sea trials and "be ready to enter service with the Royal Navy in the early 2030s", Downing Street said.
ADVERTISEMENT

It will also see the second vessel in the programme, HMS Valiant, reach the sea trial phase, and the third and fourth boats progress through the construction stage.

The programme will support 47,000 jobs and apprenticeships according to Burnham, who has made tackling growing youth unemployment a priority of his nascent administration.

Also Read: Navy commissions INS Malvan warship to bolster coastal anti-submarine capabilities

The submarines "will protect Britain for decades to come, and the 47,000 jobs and apprenticeships will change lives both in this town and in dozens of places like it," Burnham was set to say on a visit to the BAE shipyard in Barrow, northwestern England on Thursday.
ADVERTISEMENT

Defence Secretary Wes Streeting said the investment "secures our commitment to deliver Dreadnought Class submarines by backing British industry".

The UK government has earmarked more than £63 billion over the next four years to fund its nuclear deterrent as part of its Defence Investment Plan.
ADVERTISEMENT

That includes the Dreadnought submarines and new attack submarines part of its AUKUS military alliance with Australia and the United States.

Burnham faces an uphill battle to increase military spending under pressure from the US and NATO allies, while finding ways to fill a £4.7 billion funding gap in its defence plan over the next four years.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Defence › Britain unveils £8.4 billion boost for nuclear submarine fleet
Text Size:AAA
Success
This article has been saved

*

+