The ferry MV Glen Sannox is launched at Ferguson Marine in 2017

Holyrood ministers are ready to defy one of their own economic advisers and nationalise the last civilian shipyard on the Clyde.

Derek Mackay, Scotland’s finance secretary, has confirmed the government is “ready and willing” to save Ferguson Marine Engineering.

Its future has been hanging in the balance for months amid cost overruns and delays in delivering two new ferries to a state-owned company. The Port Glasgow company’s directors said on Friday that they intend to appoint administrators if a solution was not found to the dispute.

Derek Mackay, the finance minister, wants to save the yard JANE BARLOW/PA

Jim McColl, the Monaco-based industrialist who rescued Ferguson Marine in 2014 and who advises Nicola Sturgeon, has warned against nationalisation and suggested that ministers are abusing their power.

Yesterday Mr Mackay confirmed that the government, which has already handed