Britain's Conservative government on Monday scrapped a 250 million-pound ($288 million) plan to build a national flagship that was supposed to tour the world as a “floating embassy" amid a public spending squeeze and to prioritize funding for boosting U.K. defenses against Russia.
New Prime Minister Rishi Sunak sunk the plan to create a successor to the Royal Yacht Britannia, which was retired in 1997. The new flagship was championed by former Prime Minister Boris Johnson, but critics had slammed it as a vanity project.
