Chancellor John Healey to pledge ‘new age of industrialisation’

Chancellor John Healey will pledge a “new age of industrialisation” for Britain in his first speech to party conference.

In his address to delegates in Liverpool later today, he will confirm a multi-billion pound investment in three major maritime projects, strengthening national security and creating high-skilled jobs across the country.

The Chancellor will confirm that the Royal Navy’s submarine at HM Naval Base Clyde will receive three new floating docks, known as Programme Euston, through a UK-only competition, in light of their importance to national security and sovereign British industry.

Healey is expected to say: “My politics were shaped by the industrial heartlands of South Yorkshire.

“Today, on the site of the Orgreave pit, is Rotherham’s Advanced Manufacturing Park. Our coal mines are not coming back. But this is how Britain’s industrial past is being remade now for the modern world.

“This is the new age of industrialisation. A new confidence in Britain.”

The new facilities will provide crucial maintenance for the UK’s current and future fleet of nuclear submarines, allowing essential inspections, upgrades and repairs to be carried out.

In addition to this, the Chancellor has also committed to fund at least £115 million for a new marine research vessel to help protect our seas.

Set to be operational in the early 2030s, it will continue the delivery of core research on our seas and oceans, replacing the current vessel which is nearing the end of its life.

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Healey said: “Britain has a proud shipbuilding heritage, and every pound of this strategic investment in a critical sector is backing British jobs on the Clyde and businesses across the UK, supporting growth in every postcode.

“By backing British shipyards, we are not only boosting national security but also securing resilience in the industries that will drive growth today while building the capabilities the country needs for the future.”

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Defence Secretary Wes Streeting said: “Defence spending should make Britain stronger in every sense. That means backing British by buying British wherever our industry can deliver.

“HM Naval Base Clyde is at the heart of our submarine service. Programme Euston will modernise it for decades to come, while backing British shipyards, workers and engineering.

“That is defence driving the reindustrialisation of Britain and strengthening our sovereign capability.”

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