Defence Secretary Michael Fallon has today announced £642 million of investment for the Successor submarine programme.
3 March 2016 - Defence Secretary Michael Fallon has today announced £642 million of investment for the Successor submarine programme. The funding will help to progress work on the four new submarines that will begin replacing the Vanguard class, from the 2030s. The funding will go towards new parts and facilities, as well as further design work. The investment will include £225 million of investment for new facilities, at BAE Systems at Barrow-in-Furness, where the submarines will be assembled. That investment will ensure the submarines are built with maximum efficiency.
The funding will also see significant investment in the UK/US collaboration for the Common Missile Compartment and around £200 million for key long lead items ordered for the submarines. This confirms the announcement made in last year’s Strategic Defence and Security Review and will provide a sound foundation for the next phase where we will be taking a staged investment approach.
Defence Secretary Michael Fallon said:
"Our nuclear deterrent provides the ultimate guarantee of our security and our way of life. That’s why we are getting on with this investment.
"This money will support further design work, new infrastructure and the purchase of key parts such as engines and gearboxes, as well as jobs across the UK."
This investment of £642 million will take the total cost of the Assessment phase to £3.9 billion.
Source: Gov.uk (Contains public sector information licensed under the Open Government Licence v3.0.)