British government will sell military assets, including HMS Albion and HMS Bulwark, by March 2025, as part of a plan to save £500 million over five years.
Defence Minister John Healey announced the move on Wednesday, explaining the decision to scrap several Royal Navy ships, drones, and helicopters, Reuters reports.
“These will not be the last difficult decisions I will have to make,” Healey told Parliament.
HMS Northumberland, the Army’s Watchkeeper Mk 1 drones, 14 older Chinook helicopters, and several Puma helicopters are also set to be retired.
He said these changes would save the Ministry of Defence £150 million in two years, adding, “These decisions will deliver better value for money and ensure we are in a better position to modernise and strengthen UK defence.”
Blaming the “fiscal inheritance” from the previous government, Healey said Britain’s allies had been informed of the cuts. Defence spending is expected to reach 2.5% of GDP in the future.