Sounds insane (unless you usually pay attention to the cost of military equipment), but — for a change — it’s a valid use of funds:
A contract has been awarded to keep a Royal Navy warship stored and unready for sea in dock for five years. The amount to be paid is approximately double what the ship cost to purchase in the first place.
The vessel in question is HMS Victory, Nelson’s famous flagship at the Battle of Trafalgar, which remains in commission as a Royal Naval warship, though her seagoing days are long behind her. It has just been announced that a deal for her next five years’ maintenance has been struck for £16m.
Historical records indicate that Victory — in her time one of the most powerful warships afloat — cost £63,176 to build, which according to the Bank of England is equivalent to just over £8m in today’s money. The five-year maintenance deal will thus cost twice what it cost to build the ship in real terms.
