New 200 million pound royal yacht is a ‘good idea’, business minister says

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The British government's plans to build a 200 million pound ($276.3 million) successor to the Royal Yacht Britannia, which was retired in 1997, are a good idea, Business Secretary Kwasi Kwarteng said on Monday.

The Royal Yacht Britannia is seen as it sits in a dry dock at Forth Ports in Edinburgh, Scotland January 13, 2012. REUTERS/David Moir

LONDON, June 21 - The British government’s plans to build a 200 million pound successor to the Royal Yacht Britannia, which was retired in 1997, are a good idea, Business Secretary Kwasi Kwarteng said on Monday. "I think it is a good idea actually," Kwarteng told Sky, though he said there was still a discussion in government over the plans. "It's a huge amount of money."

"What it does is it represents Britain - it is a symbol of Britain and if you are going on trade missions - that is exactly the way we would drive trade," he said.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

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When Britannia was taken out of service Labour said it was because it didn't serve a purpose. Now this.

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