Palmers built major warships including the battlecruiser Queen Mary, the R-class battleship Resolution, and the cruiser York, but went bankrupt in 1934 despite that record. Armstrong Whitworth and Swan Hunter absorbed parts of its infrastructure, yet the failure still removed an independent yard. British governments intervened economically through infrastructure programmes and naval construction even when their policy is remembered as laissez-faire. Ordering cruisers or battleships during a recession could keep capable yards active while meeting naval needs. A ship order also sustained suppliers of plates, glass, wood, fittings, and other materials, making procurement an indirect form of industrial support.
Notable Point · 23:18-26:08
Naval orders as industrial policy
The rise and collapse of Palmers shows why governments used warship orders to sustain yards and the many industries around them during downturns.