Tax breaks to help Britannia rule the waves once more

MINISTERS will today launch a drive to double the size of Britain’s Merchant Navy by highlighting tax breaks and the protection of the Royal Navy as incentives for registering ships in the UK.

The Government hopes to create thousands of new jobs and boost the amount of trade coming through British ports as part of a post-brexit economy.

Ships registered in the UK fly the famous Red Ensign, or Red Duster, which since 1707 has been a symbol of Britain’s maritime might.

The size of the UK Merchant Navy, a term which effectively refers to all nonroyal Navy ships registered here, has been affected by the adoption of socalled “flags of convenience” by shipping companies registering their vessels in countries where fees are cheaper and regulations are looser.

But the Government has set out a target of doubling the size of the UK Ship Register – the list of vessels registered in Britain – from 16 to 30 million gross tonnage post-brexit.

Such a leap would propel Britain from 15th place in the list of global maritime nations into the top 10.

The Maritime and Coastguard Agency, which oversees the register, is looking to simplify rules to make the UK a more attractive destination.

John Hayes, the Shipping Minister, said: “In Britain’s post-brexit future we will grow the Red Duster, forging new global relationships. Unfurling the Red Duster shows Britain’s maritime leadership to the world.”