HMS Prince Philip reportedly given green light to sail

Boris Johnson is reportedly expected to announce the new flagship within weeks

Prince Philip, Duke of Edinburgh attends the renaming ceremony for ‘The City Of Adelaide’ clipper ship at the Old Royal Naval College on 18 October, 2013 in Greenwich, England. A new national flagship will reportedly be named in the late Prince Philip’s honour. (Getty Images)

A new national flagship that could cost up to £200 million is reportedly set to be named after the late Duke of Edinburgh.

In a report on Saturday, The Telegraph said plans for the HMS Prince Philip had already been given the green light.

Prime Minister Boris Johnson is expected to announce the new national flagship within weeks, the newspaper reported.

The new vessel is expected to help boost British trade and would reportedly be used to promote British businesses overseas by mooring near international trade fairs and hosting trade negotiations.

The new vessel will also likely be seen as a successor to the Royal Yacht Brittania, which decommissioned by former Prime Minister Tony Blair in 1997.

The Independent has contacted Downing Street for comment.

In a statement to the Press Association, a No 10 spokesperson said suggested that the HMS Prince Philip was part of an “exciting vision” held by Boris Johnson.

“The Prime Minister has an exciting vision for shipbuilding in this country and is committed to making the UK a shipbuilding superpower,” they said.

“We are always looking for new ways to promote Global Britain around the world, driving investment back to the UK and delivering value for money for the British people.”

The spokesperson did not rule out the possibility of the project’s £200 million price tag.