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UK allocates £8.4bn for nuclear submarine replacement program
The funding is part of a wider Defence Nuclear Enterprise plan totaling £63.6bn over four years, with most spending earmarked to keep current submarines operating.
The UK government will provide £8.4bn to support progress on the project to replace the country’s existing Vanguard-class nuclear submarines with Dreadnought-class vessels, aimed at getting the new ships ready for service, according to BBC Business.
The BBC reports the Vanguard submarines have been in operation since 1992 and are due to be retired in the 2030s as the Dreadnoughts are expected to enter service around the same time. The project, first announced in 2006, reached a key milestone in 2016 when MPs approved building the new submarines.
BBC Business says Thursday’s announcement marks the start of what is described as the fourth phase of the program. The government says the spending is already planned and included in the Defence Investment Plan published in the final days of the previous administration, with £63.6bn allocated over the next four years for the Defence Nuclear Enterprise.
The outlet adds that the bulk of the money, £47bn, will go toward keeping the nuclear submarines in operation, continuing Dreadnought work, planning for potential replacement in about 30 years, constructing other new submarines, and upgrading naval docks and manufacturing facilities. The prime minister is expected to highlight the economic benefits, with the government forecasting nuclear defence spending supports about 47,000 jobs now and rising to 65,000 by 2030, including 22,000 apprenticeships by 2035.