Chancellor unveil £100m investment in Portsmouth Chancellor George Osborne has outlined his strategy to make the Royal Navy the most modern in the world with his aim of building a new warship every two years. During a visit to Portsmouth Naval Base, Mr Osborne announced that the new Type 26 global combat ships, expected to be ordered later this year, would be based in both the Hampshire port and at Plymouth, Devon. He also outlined how £100 million would be spent on the infrastructure at Portsmouth to provide new docking facilities for the two new Queen Elizabeth class aircraft carriers currently being built.