A new Royal Yacht Britannia should be commissioned to "project Britain's image around the world', a new report backed by former Foreign secretary Sir Malcolm Rifkind says.

The report from the Henry Jackson Society - titled "Core Assumptions and British Strategic Policy" - was submitted to 10 Downing Street over the past fortnight.

Among its recommendations it says: "Britain would do well to consider the acquisition of a new Royal Yacht to help project the country's image around the world and drum up the sale of UK products".

A replacement for HMY Britannia was first proposed before the 1997 election before being dropped by Tony Blair's Government in October of that year.

The Daily Telegraph has been campaigning for several years for a new royal yacht in the hope that it could act as a catalyst for inward investment deals after Brexit.