§ Mr. Gordon PrenticeTo ask the Chancellor of the Exchequer what considerations led him to propose using the contingency reserve to finance a replacement for the royal yacht. [13696]
§ Mr. Waldegrave[holding answer 31 January 1997]: The Government believe the benefits of a new royal yacht will accrue to the nation as a whole. There is no defence requirement for a replacement yacht, although it will be crewed by the Royal Navy. No other Department's budget is suitable to fund the yacht. As the cost of the yacht is additional to existing expenditure plans, the Government concluded it was appropriate to finance it from the reserve.