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U.K. to Spend $5.3 Billion to Boost Shipbuilding, Create Jobs

Boris Johnson plans to plow 4 billion pounds ($5.3 billion) into shipbuilding to help secure the industry’s future in the U.K. and deliver more than 150 naval and civil vessels over the next 30 years.

“Shipbuilding has been in our blood for centuries and I want to ensure it remains at the heart of British industry of generations to come,” Johnson said in a statement Thursday, ahead of a visit to a dockyard in Merseyside, northern England.