UK Chancellor announced 500 million pounds for Faslane submarine baseStaff writer ▼ | September 1, 2015
Chancellor George Osborne announced over £500 million of funding for the Royal Navy’s flagship submarine base, HM Naval Base Clyde at Faslane, securing 6700 jobs and creating thousands more.
Defense industry Securing 6700 jobs and creating thousands more
More than £500 million will be spent on ship lifts, sea walls, jetties and other major projects to ensure Faslane continues as a world leading naval base; home to Astute and Successor submarines, their crews and engineers until at least 2067.
This announcement follows the Chancellor’s pledge at the Summer Budget to maintain the NATO commitment to spending at least 2% of GDP annually on defence, making the UK the only major world economy which meets both the NATO target and the 0.7% on international aid target.
Faslane is the largest military establishment in Scotland, and alongside Portsmouth and Devonport is one of three major naval hubs.
From 2020, Faslane will be the Royal Navy’s "Submarine Centre of Specialisation" which means all of the UK’s underwater capability will be based in Scotland. The Ministry of Defence also expect to base Successor class submarines at Faslane when they come into service from 2028.
Currently the base hosts around 6,700 military and civilian staff and contractors, but this is expected to increase to about 8,200 by 2022 based on submarine capacity alone, with today’s additional infrastructure development also contributing thousands of jobs. ■