Britain invests in maritime security - Over $8 billion to expand submarine fleet
Britain will invest $8.13 billion to expand its submarine-building capacity, supporting firms such as defense group BAE Systems and multinational company Rolls-Royce.
Responding to US President Donald Trump's insistence that Europe take more responsibility for its own security, Prime Minister Keir Starmer has pledged the biggest increase in British military spending since the end of the Cold War.
Last week, London said it would increase the number of nuclear-powered attack submarines to 12, from the current seven.
Investment in the defence nuclear sector is expected to include over £8 billion to increase the “capacity, capability and productivity of the UK’s submarine industrial base”, including BAE Systems and Rolls-Royce Submarines.
The investment, which will cover the four-year spending review period, will help companies achieve increased submarine production rates, the government said in a statement.
Chancellor Reeves will announce the results of the first multi-year spending review, including a four billion pound investment over the next decade at the Plymouth naval base.
The finance minister will also announce an investment in the reconstruction of a naval base in Scotland and in Sheffield Forgemasters, a steel company that produces parts for submarines.
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