THOUSANDS of people working at HM Naval Base on the Clyde, including many from Inverclyde, have had their jobs secured by new funding from the UK Government.

Chancellor George Osborne visited the base yesterday to announce £500 million to guarantee its future until at least 2067.

He said this would secure 6,700 jobs and create thousands more.

Mr Osborne said money will be spent on ship lifts, sea walls, jetties and other major projects to ensure Faslane continues as a world leading naval base and home to Astute and Successor submarines, their crews and engineers. He said the work, which will take 10 years to complete, is expected to start in 2017 and support thousands of jobs.

The Chancellor added: “This demonstrates the UK Government’s commitment to investing in the infrastructure and capability to ensure Faslane remains the centre of UK submarine operations for the next generation. There will be thousands more jobs right here in Faslane, as well as across the UK supply chain.

“Across Scotland, around 12,600 people work in defence, and my defence spending commitments will secure these jobs and provide huge opportunities for defence, security and technology companies all over the UK.” Faslane is the largest military establishment in Scotland, and, alongside Portsmouth and Devonport, is one of three major naval hubs.

From 2020, Faslane will be the Royal Navy’s ‘Submarine Centre of Specialisation’ which means all of the UK’s underwater capability will be based in Scotland.