Britannia was decommissioned in 1997. The Queen then struggled to keep her composure as she said her farewells.

 

One or two eyes are watering fifteen years on, after a lit letter from Michael Gulf today suggested a diamond jubilee gift from the nation to her majesty, Britannia’s replacement. But would that mean finding more than sixty million pounds from the public purse? The prime minister rolled it out, Nick Clegg, chose a more tabloid approach.

 

"I thought myself this debate is gonna turning into a debate about the having or having not yacht. Sorry, but I couldn't resist it. I suspected most people in the country would think given these very little money around, this probably isn’t, wouldn't be the top of their list of priorities for the use of scarce, scarce of public resources."

 

But while the education secretary appeared to suggested private donations was only be thought if sufficient taxpayers’ funds were unavailable. Labor was about to let the matter of the rest.

 

"How many primary school places could the government fund with the money that secretary of state proposed be spent to the new royal yacht."

 

"The letter which I write to prime minister on 12 of September clearly stated that I agreed, of course , that the project for the royal yacht , the future ship for 21st century was one, I just quickly read my letter when no public funding should be provided ."

 

In her lifetime, Britannia sailed one million nautical miles, hosting heads of the state and royal honeymoons, as well as helping the queen become the most travelled monarch in history. Albeit in the way it returned to those days, private funding.

 

"And what's the plan is really about is the project doesn't involve taxpayer’s money at all as it involves donation from the big business not just in Britain but across the common wealth."

 

"I name the ship Britannia."

 

But economic times may have to improve before these immortal words are uttered once more.

 

"Good luck. Britannia, a vessel fit for the Queen."

 

Paul Harrison, Sky News.