UK royal yacht could cost taxpayer £50m more than initially said

Defence secretary says Britannia replacement would cost up to 250m at event to launch project

Britain's new royal yacht could cost the taxpayer an initial 50m more than previously indicated at a total cost of 250m, the defence secretary said at an industry event to launch the project.

The replacement for the long-scrapped Britannia, a brainchild of the prime minister, Boris Johnson, would be commissioned at between 200m and 250m at a firm price", Ben Wallace told a specially convened conference at Greenwich.