I informed the House on 20 May (Official Report, column 15WS) of our intention to sign the contracts for the manufacture of the aircraft carriers HMS Queen Elizabeth and HMS Prince of Wales once the proposed joint venture BVT surface fleet had formed. I am pleased to inform the House that following formation of the company, we will today sign the contract and alliance agreement for manufacture of the two future aircraft carriers. The carriers will support a step change in our ability to project expeditionary air power over the coming decades and during their construction are expected to create or sustain 10,000 jobs across the UK.