Ben Wallace confirmed the rising prices – which might be as a lot as £50 million greater than beforehand thought – because the Prime Minister mentioned the vessel would permit the UK to “present itself off to the world”.
Labour criticised the “completely staggering” price of the mission, calling on the Authorities to as a substitute “make investments correctly” to deal with crime and delinquent behaviour.
The vessel is because of be paid for out of the Ministry of Defence (MoD) finances, although No 10 has confirmed the ship might be for commerce somewhat than defence functions.
Talking at an occasion in Greenwich, Mr Wallace mentioned: “Topic to working by bids, competitors and know-how, I goal to fee the ship for between £200 and £250 million on a agency worth.”
He mentioned he hoped development would begin in a British shipyard as early as subsequent yr with the “ship within the water by 2024 or 2025”.
The Prime Minister was requested in regards to the mission by LBC’s Nick Ferrari. He mentioned: “It’s a mission that won’t solely assist to drive, revive the ship constructing business on this nation, drive fast jobs and progress for younger folks, fast job alternatives for younger folks in a sector by which this nation used to steer the world.
“However when you think about the chance for the UK, as we compete now for inward funding within the UK, we’d like a discussion board, a spot the place the most effective of British enterprise and business can come collectively to showcase what we have now to supply, and, you recognize what I imply by, by MIPIM, the world commerce gala’s, the expos.
“We’d like someplace the place the UK can present itself off to the world and entice funding and that can drive jobs and progress within the UK, not simply in shipbuilding however throughout each sector of the UK.”
Labour’s shadow house secretary Nick Thomas-Symonds mentioned the mission was the Prime Minister’s “self-importance yacht” and mentioned Labour would scrap it.
The boat would be the first nationwide flagship because the royal yacht Britannia which was decommissioned in 1997.
However the brand new vessel might be a ship somewhat than a luxurious yacht.
It’s geared toward boosting the Prime Minister’s post-Brexit imaginative and prescient of the UK as a worldwide buying and selling nation.
The ship might be crewed by the Royal Navy. It’s anticipated to be in service for round 30 years.