A new national yacht, which is reportedly set to cost £200m, will be paid for out of the Ministry of Defence’s budget, Downing Street has confirmed.

The national flagship, the successor to the Royal Yacht Britannia, will sail the globe hosting trade talks.

The prime minister’s official spokesperson said Boris Johnson hopes it will be built in the UK, but that international rules on procurement will be followed.

Mr Johnson announced the commissioning of the new flagship earlier this year, saying it would be used to promote British interests around the world as the UK seeks to build trade links post-Brexit.

The vessel will be part of and crewed by the Royal Navy, the PM said.

“Every aspect of the ship, from its build to the businesses it showcases on board, will represent and promote the best of British – a clear and powerful symbol of our commitment to be an active player on the world stage,” he added.

Labour has previously called on the government to set out how the yacht will boost trade and jobs in the UK and to “focus on value for money” with regards to the project.

Conservative Jake Berry, who is chairman of the Northern Research Group of MPs, has campaigned for the vessel to be built by Cammell Laird on Merseyside.

And at a lobby briefing on Monday, the PM’s official spokesperson confirmed the new flagship will be “funded through the Ministry of Defence”.

“This new national flagship will boost British trade and drive investment into the economy,” he said.

“The procurement process, which is being done through the MoD, will reflect its wide-ranging use and so it will be funded through the MoD, as set out previously.”

The PM’s official spokesperson declined to comment on where the MoD would find the reported £200m required for the project out of its budget, but did confirm the new vessel will not be a warship.

“We will set out the exact detail in due course but this is a trade ship, it is not a military vessel,” he said.

The Royal Yacht Britannia was launched by The Queen in 1953 and was retired in 1997 after completing 44 years of service.

The new national flagship is expected to be in service for around 30 years.

The yacht’s name is yet to be announced, but reports have suggested it will pay homage to the Duke of Edinburgh who was Lord High Admiral from 2011 until his death earlier this year, and served in the Royal Navy during the Second World War.

Related posts:

Thousands with learning disabilities and autism still being held in mental health hospitals Delta variant 60% more transmissible than Alpha and more resistant to vaccines ‘I cried the whole day’: Chris Eubank Jr opens up about death of his brother Sebastian Fans break through security barriers and run into Wembley ahead of Euro 2020 final How the England and Italy players rated in the Euro 2020 final ‘It starts at the top’: PM’s burka comments highlighted amid condemnation of football racism Man, 21, pleads not guilty to murdering PCSO Julia James Rashford takes his mum to Windsor as he collects MBE from William RSPCA investigating after woman filmed kicking and punching horse ‘Truly shocking’: Military chief alarmed at rise in rape reports among girls under 18 in armed forces Ban on Yorkshire hosting internationals at Headingley lifted after cricket racism scandal prompts changes Patient dies of Ebola-like Lassa fever as third case in UK confirmed, health officials say