The Prime Minister said he is “highly confident” that jointly hosting Euro 2028 with Ireland will benefit the economy.

Uefa confirmed on Tuesday that the UK and Ireland’s bid to host the tournament has been successful.

Culture Secretary Lucy Frazer said it is expected to deliver £2.6 billion of socio-economic benefit across the host nations.

Rishi Sunak said he expected the tournament to provide a “massive boost” to the economy, but also stressed wider benefits, saying it would bring the country together and inspire the next generation of football fans.

Speaking to broadcasters while on a visit to England’s training ground, St George’s Park in East Staffordshire, Mr Sunak said: “I grew up with Euro 96 being one of the most amazing memories of my childhood. And we have a chance to do that all over again for lots more people, just like we did last year with the lionesses.

“We host tournaments better than anyone else. It’s going to be a massive boost for the economy.

“We’re going to welcome millions of people to the country and it’s going to inspire a whole new generation.”

Challenged over whether the benefits would outweigh the costs, he said: “I’m highly confident that we will benefit from this economically.

“All our stadiums are largely already built, and when we’ve done these in the past they have proven to be a huge boost to the whole country, and especially the places that are hosting the matches.

“But, more importantly than that, it also just brings the whole country together, inspires a huge generation of people to follow the sport and also just creates the most amazing memories.”

Ms Frazer said: “We will put on a brilliant tournament with fans at its heart. We will warmly welcome fans from across Europe to our islands’ shores and give people memories that will last a lifetime.

“On top of that, the tournament is expected to deliver up to £2.6 billion of socio-economic benefit across the host nations, creating jobs and opportunities.”

Scottish First Minister Humza Yousaf said hosting the tournament would “provide a range of opportunities, not only through the economic benefits of visiting fans but through a strong legacy programme that will help grow a more inclusive and diverse game right across the country”.