This is expected to be beneficial for the UK, helping boost trade and exports, create jobs and ultimately boost the entire economy. According to UK MCA, the main benefits of flying the British flag include:
- international tax breaks for vessels flying the Duster
- British consular support for ships in foreign docks
- the protection of the Royal Navy
Maritime Minister John Hayes said:
"In Britain’s post Brexit future we will grow the Red Duster, forging new global relationships. Our ship register has a special significance and our flag is of distinct quality."
The UK Ship Register team has taken great strides to ensure the Red Ensign, more properly known as the flag of the UK’s Merchant Navy, is more commercially attractive to a 21st century shipping community, revealing that the size of UK fleet grew by 11.5% between 2015 and 2017.
"On top of the prestige of donning the world’s most recognisable maritime flag, vessels carrying the Red Duster will benefit from British consular support, a world class tonnage tax regime and low registration, survey and certification costs with no annual renewal fees," UK MCA informed.