The Royal Navy’s submarine base at Faslane – home to Britain’s nuclear deterrent – is to receive a more than 500 million pounds investment grant from the Government, reports Reuters.
Chancellor George Osborne says this move will safeguard 6,700 jobs at the Scottish site and create thousands more. Faslane would be the base for the new submarines.
Osborne said: "Across Scotland, around 12,600 people work in defence and my defence spending commitments will secure these jobs."
The Faslane naval base on the River Clyde, east of Glasgow, is home to the fleet of four Vanguard-class submarines, one of which is on patrol at all times, that form Britain's 'Trident' nuclear deterrent.
The money will be spent on "ship lifts, sea walls, jetties and other major projects" and that work will start in 2017, the government said in a statement.
The UK chancellor’s announcement will be seen as a further sign of commitment from the government towards the full £23bn renewal of the Trident nuclear deterrent.
The Scottish National party, which holds 56 of the country’s 59 seats in Westminster and dominates the Scottish parliament, is opposed to the deployment of nuclear weapons but has committed to retaining a conventional naval presence on the Clyde.