The UK Government has announced more than £500million funding for HM Naval Base Clyde at Faslane.

Chancellor George Osborne made the announcement on a visit to the base today and said it would secure 6700 jobs and create thousands more.

The cash will be spent on ship lifts, sea walls and other projects as in a 10 year scheme expected to start in 2017.

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 - a pledge of Better Together in the Scottish Independence Referendum. The Ministry of Defence also expect to base Successor class submarines at Faslane when they come into service from 2028.

Currently the base hosts around 6,700 military and civilian staff and contractors, but this is expected to increase to about 8,200 by 2022 based on submarine capacity alone.

Speaking from Faslane, Mr Osborne said: "Today’s announcement of more than £500 million demonstrates the UK government’s commitment to investing in the infrastructure and capability to ensure that Faslane remains the centre of UK submarine operations for the next generation.

"I’m proud to say that this government continues to recognise that our brave Armed Forces across Britain have always been resolute in defence of liberty and the promotion of stability around the world.

"That’s why I recently committed to meet the NATO pledge to spend 2% of our national income on defence every year of this decade.

"A strong and secure country is vital to both our prosperity and national security. There will be thousands more jobs right here in Faslane, as well as across the UK supply chain."

John Ainslie, coordinator of Scottish CND, said people should beware of Mr Osborne 'bearing gifts'.

He said: "If you look underneath the wrapping, you will see that his real present for Scotland is more nuclear submarines.

"He is cutting benefits for the most vulnerable in our society and making the poor pay for more weapons of mass destruction."