The UK flagship was to be used for trade events

The yacht would have been a replacement for the Royal Yacht Britannia which was decommissioned in 1997

A UK plan for a new £250m national flagship yacht (which would have been a replacement for the Royal Yacht Britannia which was decommissioned in 1997 and is now a tourist attraction in Scotland) has been scrapped by Prime Minister Rishi Sunak as part of government cost-cutting measures.

The idea for the new 4,500 GT ship was originally put forward by former Prime Minister Boris Johnson. The vessel was to be built in the UK and it would have been manned by some 200 Royal Navy personnel.

The purpose of the ship was twofold. Primarily it would have been a national flagship to promote the UK’s global trade activities by serving as a business platform to host trade initiatives and foreign dignitaries. It would also be used by members of the UK royal family for overseas trips, which in the past have often included trade and promotional events.

The idea of it being used as a replacement for the former Royal Yacht Britannia brought a lukewarm response from Buckingham Plalace. Media reports suggest that royal sources described the idea as being “too grand” of a symbol representing a 21st century monarchy.

When first announced, the cost of such a vessel was estimated to be £150m but subsequently it rose to £250m. Among architects and designers who contributed design proposals were Foster & Partners, Renzo Piano, Zaha Hadid, Philippe Starck and John Pawson.