PLANS for a new royal yacht have been ruled out.

Ministers said it was “very, very unlikely” taxpayers’ cash will be used to investigate privately-backed proposals.

International Trade Minister Mark Garnier said he would be “very keen” to see a business plan for a new royal yacht Britannia from MPs.

Read more: MPs must have vote before Brexit process begins to ensure UK Government has "clear plan"

But he made it clear the Government has “no plans and has had no plans” to commission a replacement for the existing Britannia, which was taken out of service in 1997 and is now a popular tourist attraction in Leith, Edinburgh.

He also rejected the suggestion the existing Britannia could be recommissioned, adding: “Clearly, it’s well past its active life.”

More than 100 Tory MPs have backed a campaign calling for the Government to set up a panel to examine the case for a new vessel, which they believe could be a key part of the post-Brexit future.

Suggestions from the group include using the UK’s overseas aid budget to help run it, with MPs also hearing a call for each Whitehall department to contribute.

Read more: MPs must have vote before Brexit process begins to ensure UK Government has "clear plan"

Tory former defence minister Andrew Murrison joked: “Whichever model we choose can we make sure it is tasteful and not a gin palace, and not a Philip Green-type vessel?”

He warned against the Royal Navy having to pick up the full costs.

Replying to a parliamentary debate, Mr Garnier said there are “hard facts which stand in the way of a new yacht” – including the likely £120 million cost and the need to fund its operation and maintenance.

Mr Garnier went on: “We haven’t seen a business proposal, we haven’t seen a cost benefit analysis and so to a certain extent this debate is hypothetical.“The international development budget is something which I think is separate from this particular discussion. We’re talking about trade, not international development, so it is slightly different.”

Read more: MPs must have vote before Brexit process begins to ensure UK Government has "clear plan"

Before the debate, Edinburgh North and Leith SNP MP Deidre Brock dismissed Tory calls to bring back the yacht as a working ship as “daft”.

She said: “The Royal Yacht Britannia is a beautifully kept museum piece. The plan to bring it back as a working ship is just daft. The ship is a floating curiosity from a bygone era and it is staying put in Leith – not just because one of the propellers has been melted down into a statue of a Royal Yachtsman.

“By remaining at the Ocean Terminal, Britannia can actually give something back to society, bringing in money to help regenerate a poorer area, rather than leaching further from the public purse.

“Given the austerity being inflicted upon us, surely even the Tories would flinch at the idea of recommissioning a royal yacht.”