Key facts
- The UK government will invest £8.4 billion in the Dreadnought Class nuclear submarine program.
- BAE Systems will receive £5.9 billion of the investment.
- The program aims to deliver four nuclear-powered submarines.
- The first submarine, HMS Dreadnought, is expected to enter service in the early 2030s.
- The program is projected to support 47,000 jobs and apprenticeships over the next decade.
The United Kingdom has announced a significant investment of £8.4 billion (approximately €9.8 billion) to advance the next phase of its Dreadnought Class nuclear submarine program. This funding is designated to bolster the UK's nuclear deterrent and is expected to create substantial employment opportunities.
Prime Minister Andy Burnham's office stated that the investment will deliver jobs and opportunities for young people for years to come. A substantial portion, £5.9 billion (around €6.9 billion), will be allocated to the UK defence contractor BAE Systems, with the remainder supporting the broader supply chain. BAE Systems will leverage its expertise in flight controls for the new generation of submarines.
The investment is crucial for completing the sea trials of the first submarine, the HMS Dreadnought, with the goal of it entering service with the Royal Navy in the early 2030s. The government anticipates that this program will sustain 47,000 jobs and apprenticeships over the next decade.
Defence Secretary Wes Streeting emphasized that this investment underscores the UK's commitment to its nuclear deterrent by supporting domestic industry. The UK government has allocated over £63 billion across the next four years for its nuclear deterrent, which includes the Dreadnought submarines and new attack submarines as part of the AUKUS military alliance with Australia and the United States.