Labour 2026: Healey pledges UK industrial revival
Chancellor announces new Royal Navy docks in Faslane, a £115m marine research vessel, and union training funds.
Stock photo for illustration only, not from the actual event
- Healey to outline a positive vision based on a new confidence in Britain at the Labour conference in Liverpool.
- Three new floating docks at Faslane and a £115m marine research ship to be built domestically.
- The Union Learning Fund to return with £15m to help workers adapt to AI and modern workplace changes.
- CBI survey highlights declining economic activity and pressures on profit margins ahead of the Budget.
During the Labour annual conference in Liverpool, the chancellor is set to outline a sweeping positive vision for the future of British industry, anchored in what he describes as a new confidence in Britain. With just a month remaining before his inaugural Budget, the treasury chief faces intense political pressure to either curb spending or raise taxes to manage government borrowing costs, though he is not expected to unveil specific fiscal details during this speech.
Among the core announcements, the former defence secretary will confirm that three new floating docks at HM Royal Naval Base Clyde in Faslane will be constructed domestically rather than put out to international tender. First conceived in 2023, these facilities are designed to service the next generation of British submarines and form an integral part of a wider £15bn upgrade initiative for Royal Navy shipyards slated to enter service in the early 2030s.
Stock photo for illustration only, not from the actual event
Building on these industrial investments, First Secretary of State Louise Haigh previously announced plans for a new marine research vessel. The chancellor is expected to rubber-stamp £115m in government funding for the ship, which is also scheduled to become operational in the early 2030s as part of a broader push toward reindustrialising the nation.
"By backing British shipyards, we are not only boosting national security but also securing resilience in the industries that will drive growth today while building the capabilities the country needs for the future."
Healey
Addressing workforce development, Healey will announce the return of a union-run training initiative backed by £15m in taxpayer funds. The Union Learning Fund will be accessible to all employees regardless of union membership, offering targeted education ranging from foundational English, maths, and digital literacy to advanced manufacturing skills designed to help workers navigate workplace shifts driven by artificial intelligence.
This domestic manufacturing push highlights the UK government's strategic shift toward strengthening local supply chains and defense capabilities amid global economic headwinds. However, balancing these long-term industrial investments with immediate fiscal constraints and mounting pressure from trade unions over the cost of living remains a critical challenge for the administration heading into the upcoming Budget.
Meanwhile, a forthcoming survey by the Confederation of British Industry (CBI) points to declining economic activity across retail and services sectors through September, driven by escalating energy and employment costs. Deputy chief economist Alpesh Paleja warned that pre-Budget uncertainty continues to hamper business investment, while Unite union general secretary Sharon Graham continues to press the chancellor for decisive action to support working-class families.
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