Taxpayers will give the UK government almost $5 billion to subsidise an expansion of British production lines for Australia’s first nuclear-powered submarines.
Already a subscriber?Taxpayers will give the UK government almost $5 billion to subsidise an expansion of British production lines for Australia’s first nuclear-powered submarines, as well as a downpayment on design work.
Confirmation of the corporate arrangements will be the catalyst for a shipbuilding boom in Adelaide. Design work on the new $2 billion submarine yard can now begin in earnest and 4000 people are expected to be employed at the peak of construction.When work starts on the actual submarines, 4000 to 5500 workers will be directly employed, while the government claims 20,000 jobs will be created across the country to support engineering, maintenance and the supply chain.
“Nuclear-powered submarines are not cheap, but we live in a much more dangerous world, where we are seeing a much more assertive region China, a much more dangerous world all around with what is happening in the Middle East and Europe,” he said. It will fund a tripling in size of the Rolls-Royce plant in the Midlands to build the extra sealed nuclear reactors required for the Australian submarines.The money will also cover Australia’s share of design costs for the AUKUS-class. The most significant design change is the incorporation of US weapons systems, a change required by Australia to ensure interoperability with the US fleet.
After the naval surface fleet review uncovered a $20 billion cost blowout to almost $65 billion for nine warships, the government slashed the order to six frigates.
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