New Investments in Portsmouth Naval Base
- Business & Finance
Chancellor of the Exchequer, George Osborne, has just visited Portsmouth where he set out the government’s next steps in building the most modern navy in the world.
On a visit to the home of the Royal Navy, the Chancellor announced a new national shipbuilding strategy in advance of a decision later this year on orders for the brand new Type 26 Global Combat Ship.
The Chancellor said that these multi-million pound ships will be based at the Navy bases in Portsmouth and Plymouth.
While on the visit to one of the world’s oldest dry docks, the Chancellor also announced almost £100 million of infrastructure development in new dock facilities at Portsmouth Naval Base to further support the arrival of the Queen Elizabeth Class Aircraft Carriers.
The new work will encompass berthing and jetty improvements, new power supply and distribution, and significant dredging in the approach to the harbor to enable the base to accommodate the largest warships ever built for the Royal Navy.
The move will provide significant employment opportunities in the Portsmouth area over the next Parliament.