Prime Minister Anthony Albanese has again declared full confidence in AUKUS after British MPs warned the UK’s contribution towards delivering the massive nuclear submarine project was falling behind.

A Labour chaired House of Commons defence committee into the trilateral security partnership has detailed “shortfalls or delays in funding” which it says threaten to delay the delivery of the new SSN-AUKUS fleet with Australia.

“For the UK, delivering SSN-AUKUS will be a lengthy and complex undertaking requiring a sustained financial commitment from government across several electoral cycles,” the British report warned.

“It is deeply concerning that there are signs that the investment pipeline that underpins that commitment has already faltered.”

“We have deep concerns cracks are already beginning to show when it comes to funding. The investment pipeline has already faltered,” Labour MP and Committee Chair Tan Dhesi said.

“This cannot be allowed to happen again. Even seemingly minor shortfalls and delays snowball over time, with potentially severe consequences.”

When asked about the UK committee’s concerns as well as the unstable political environment in the United States, Mr Albanese rejected suggestions the nuclear submarine project was now “in trouble”.

“There is support overwhelmingly from the British government, from Prime Minister Keir Starmer down, as well as from the defence personnel in the United Kingdom,” Mr Albanese told reporters.

“AUKUS is to quote President Trump, ‘full steam ahead’, and I’m very confident that it will be so,” he added.

Defence Minister Richard Marles argued the British parliamentary report made clear the UK’s continuing commitment to AUKUS, along with similar strong support in the United States and Australia.

“That we see the program being scrutinised again in all three countries is important as well — this is a program that’s being delivered over the course of decades. I’m sure that the recommendations that this Committee will put forward to the UK Government will help the UK Government as it moves forward”.

“From our end, we’re really comfortable with the way in which the UK is obviously contributing to AUKUS and our relationship with the UK, and we are on track to deliver AUKUS in terms of all of its milestones,” Mr Marles said in Canberra.

Opposition Leader Angus Taylor said he was “deeply concerned” about the report but shifted blame to the Albanese government for failing to properly fund the defence force and AUKUS.

“This is a government that has underfunded defence of our nation at a time which is more risky, more dangerous than any time since the Second World War,” he told reporters in Port Kembla.

“There is no commitment to make sure that AUKUS is properly funded. There is no commitment to make sure that we also fund the rest of the Defence Force as it needs to be funded.”

Shadow defence minister James Paterson said while he was confident the AUKUS plan to replace Australia’s Collins-class boats would succeed, he said an increase in defence spending and contingency planning was still necessary.

“I think we do need contingencies for potential capability gaps . . . should events get out of our control, should we find ourselves in conflict in our own region in the future, before Virginia class submarines or other capabilities arrive,” he said.

Under the $368 billion AUKUS endeavour the US and UK will begin to rotate submarines out of Perth next year, before Australia plans to acquire second-hand Virginia-class submarines from Washington in the early 2030s.

As part of the deal the UK is also working with Australia to design and build a new class of nuclear-powered submarines, known as SSN-AUKUS, which is scheduled to enter service here in early 2040s.

Australia has pledged $4.6 billion to help uplift the UK’s submarine-building capacity for AUKUS and has also committed a similar amount to improve the industrial base in the United States.

When HMS Anson, Britain’s only available nuclear attack submarine came to Western Australia in February, its visit had to cut short so it could be rapidly recalled to the northern hemisphere after the war with Iran broke out.