Boosting Britain's coastal communities: more support for shipbuilding
The government has announced a new shipbuilding lending scheme to boost the UK’s coastal communities, creating hundreds of British jobs in our coastal towns and helping to grow the economy.
- Shipbuilding is a fundamental part of the UK’s industrial power but we must support the sector to get ahead of the competition within the shipbuilding industry.
- That is why the Conservatives are launching the Shipbuilding Credit Guarantee Scheme, as part of the £4 billion National Shipbuilding Strategy Refresh which contributes an annual £2.8 billion to the economy and supports 42,000 jobs. The Scheme will act as a guarantor for lenders purchasing UK-built ships, unlocking credit for maritime firms.
- This will encourage more vessels to be built here in the UK, creating jobs and growing the economy in coastal areas such as Liverpool, Plymouth, Clydebank and Belfast.