We have announced a new shipbuilding strategy that will include 8 new frigates built in the UK as part of our new approach following recommendations from industry experts to avoid MOD projects running over time and over budget. Our armed forces need the best and we can deliver that by running projects intelligently. This strategy will lead to more cutting-edge ships for the growing Royal Navy.
The new strategy will see warships built in the U.K. delivered to time and to cost, while giving industry strategic direction. We will be investing billions over the next 30 years helping boost a renaissance that is happening in U.K. shipbuilding. The option to build the ships in blocks reflects how the biggest ships ever built for the Royal Navy, the Carriers, were constructed.
The maritime industries employ 111,000 people, in 6,800 companies, contributing £13 billion to the economy. The UK is one of the largest exporters of maritime equipment and systems. We are partnering with industry to enable them to build a modern and efficient shipbuilding sector capable of meeting the country’s future defence and security needs. We are committed to increasing skills, exports and prosperity across the UK while also creating a more stable and well-protected world that will keep Britain safe.
