Reeves signs off on £14bn to build new nuclear plant Sizewell C
The Chancellor is set to confirm the funding at the GMB Congress on Tuesday.
Energy Secretary Ed Miliband said new nuclear power capacity was needed to deliver a 'golden age of clean energy abundance'.
Trade unions welcomed the move, which the Treasury said would go towards creating 10,000 jobs, including 1,500 apprenticeships.
But the head of a campaign group opposing the plant criticised the decision to commit the funding, saying it is still not clear what the total cost will be.
Nuclear plants are seen as increasingly important electricity sources as the Government tries to decarbonise Britain's grid by 2030, replacing fossil fuels with green power.
The last time Britain completed one was in 1987, which was the Sizewell B plant.
Hinkley Point C, in Somerset, is under construction and is expected to produce enough power for about six million homes when it opens, but that may not be until 2031.
The Energy Secretary said: 'We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis.
'This is the Government's clean energy mission in action – investing in lower bills and good jobs for energy security.'
It will get the UK off the 'fossil fuel rollercoaster', he separately told The Guardian.
'We know that we're going to have to see electricity demand at least double by 2050. All the expert advice says nuclear has a really important role to play in the energy system.
'In any sensible reckoning, this is essential to get to our clean power and net zero ambitions.'
The joint managing directors of Sizewell C, Julia Pyke and Nigel Cann, said: 'Today marks the start of an exciting new chapter for Sizewell C, the UK's first British-owned nuclear power plant in over 30 years.'
At the peak of construction, Sizewell C is expected to provide 10,000 jobs and the company behind the project has already signed £330 million worth of contracts with local businesses.
The plant, which will power the equivalent of six million homes, is planned to be operational in the 2030s.
The Government is also due to confirm one of Europe's first small modular reactor programmes and will invest £2.5 billion over five years in fusion energy research as part of plans to boost the UK's nuclear industry.
The GMB union said giving Sizewell C the go-ahead was 'momentous'.
Regional Secretary Warren Kenny said: 'Nuclear power is essential for clean, affordable, and reliable energy – without new nuclear, there can be no net zero.
'Sizewell C will provide thousands of good, skilled, unionised jobs and we look forward to working closely with the Government and Sizewell C to help secure a greener future for this country's energy sector.'
Mike Clancy, general secretary of Prospect, said: 'Delivering this funding for Sizewell C is a vital step forward, this project is critical to securing the future of the nuclear industry in the UK.
'New nuclear is essential to achieving net zero, providing a baseload of clean and secure energy, as well as supporting good, unionised jobs.
'Further investment in SMRs and fusion research shows we are finally serious about developing a 21st-century nuclear industry. All funding must be backed up by a whole-industry plan to ensure we have the workforce and skills we need for these plans to succeed.'
Alison Downes of Stop Sizewell C said ministers had not 'come clean' about the full cost of the project, which the group have previously estimated could be some £40 billion.
'There still appears to be no final investment decision for Sizewell C, but £14.2 billion in taxpayers' funding, a decision we condemn and firmly believe the government will come to regret.
'Where is the benefit for voters in ploughing more money into Sizewell C that could be spent on other priorities, and when the project will add to consumer bills and is guaranteed to be late and overspent just like Hinkley C?
'Ministers have still not come clean about Sizewell C's cost and, given negotiations with private investors are incomplete, they have signed away all leverage and will be forced to offer generous deals that undermine value for money. Starmer and Reeves have just signed up to HS2 mark 2.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Western Telegraph
15 minutes ago
- Western Telegraph
Land value tax in Wales could replace council tax and rates
The former first minister said the Welsh Government continues to explore the feasibility of LVT as used in countries such as Denmark and Singapore. Professor Drakeford has long supported a LVT, arguing those who have the privilege of ownership should pay something back for that privilege. LVT is levied on the value of the land rather than the property itself. Proponents argue LVT is easier to collect, more efficient and difficult to avoid, while discouraging speculation and encouraging people to bring idle land back into use. Professor Drakeford told the Senedd: "I am anxious to see this discussion move beyond the theoretical and into the realms of the practically possible. He explained that the Welsh Government has invited tenders to test approaches to valuing land, with submissions for every aspect of the work. The finance secretary said: "I want to use the coming months to test the boundaries of what might be possible in the next Senedd term. "Let's open the door to more radical, fundamental and progressive reform in the future." He added: "The current system is unfairly weighted against those who experience difficulty in paying. "I want to shift the focus from harmful escalation towards supportive prevention." He stated ministers will introduce a new council tax appeals process by April 2026 that will be "easier to navigate and provide a better, modern system for taxpayers". Peter Fox agreed that council tax is regressive by nature "and that it will never really become a fair local tax". Mr Fox accused the Welsh Government of increasing tax on families "by stealth" through underfunding councils which, in turn, pass on the shortfall to people. He called for reform of the "outdated and flawed" funding formula. Professor Drakeford replied: "Almost every local authority in Wales will agree that the formula needs revision – nobody can agree on how that should be done. "The 22 local authorities each believe that the formula uniquely disadvantages them."
Spectator
19 minutes ago
- Spectator
Britain needs reform
This week's spending review confirms that where there should be conviction, there is only confusion; where there should be vision, only a vacuum. The country is on the road to higher taxes, poorer services and a decaying public realm, with the bandits of the bond market lying in wait to extract their growing take from our declining share of global wealth. When every warning light is flashing red, the government is driving further and faster towards danger The Chancellor approached this spending review with her credibility already undermined. Promises not to raise taxes on working people translated into a tax on work itself which has driven up unemployment. A pledge to put growth first has been accompanied by changes to employment law that make the labour market more rigid and the cost of hiring workers commensurately greater. A party which excoriated the Conservatives for letting prices rise has pumped billions into public-sector wage hikes and seen inflation increase again. An apparent determination to take difficult decisions to control spending by removing pensioners' winter fuel payments has crumbled in the face of backbench pressure. The farcical retreat has only emboldened those in Labour who want to drive us deeper into debt. The NHS and the Ministry of Defence are the most hopeless spending addicts but they are not the only departments to have wrung more from the Treasury than the nation can afford – or the Chancellor indicated she wanted. Ed Miliband has shown that, whatever other criticisms may be directed at him, he is brilliant at getting high on the taxpayers' supply – with generous subsidies for domestic decarbonisation and billions for the most expensive energy the markets can provide. The Department for Education has secured millions more to get the state to pay for families' food. Angela Rayner has extra billions, not to build new houses but to buy existing homes for the state. The Department for Transport also has a line of credit to pay for schemes no private sector investor would go near. And any lingering expectations that welfare reform would yield significant savings seems fanciful given the Prime Minister's desire to end the two-child cap on benefit payments. It is not as though this programme can be justified on the basis of an economy that's roaring back. Tax changes this government has introduced have led to a flight of the wealthy and a consequent depression in revenue. Alongside rises in inflation and unemployment, the cost of government borrowing is escalating to a level which causes international markets to demand a heftier risk premium. At a time when every warning light is flashing red, the government is determined to drive further and faster towards danger. Perhaps the greatest sin of this spending review is one of omission. There is no indication that all this additional expenditure will be accompanied by meaningful public-sector reform. The civil service headcount is growing. In education, the greater autonomy and accountability which drove up school standards is being abandoned. Our shoddily inefficient criminal justice system remains a mess of unaccountable fiefdoms: lamentably inadequate chief constables hide their failures behind the alibi of 'operational independence', the Crown Prosecution Service is a creaking liability and courts are hidebound by a judiciary that resists effective management of their operations. The additional money for defence is going to a department whose procurement policies are hardly a model of prudence. And despite the best efforts of Wes Streeting, one cabinet minister who is at least intent on reform, the extra cash for the NHS risks being swallowed whole by staff unions rather than being used to create incentives for change. The failure to fundamentally reform the functioning of government is all too visible in every operation of the state. Britain desperately needs reform. But our government offers only the inadequate management of accelerating decline. Licences to kill While the state proves incapable of reform, our parliament is attempting to prove it is world-leading in terminating innocent lives. Legislation to make it easier to kill the ill and elderly (the private member's bill to encourage suicide) appears still to enjoy majority support. And next week Labour MPs seek to amend the Crime and Policing Bill to decriminalise abortion. The state should undoubtedly treat any decision to terminate a pregnancy with sensitivity. But this amendment is an invitation to abusive partners to coerce vulnerable women into late-stage abortions and removes one of the last protections unborn children still have. Do we really want this decade to be one in which the only thing we do more efficiently than ever is kill innocent souls?
The Herald Scotland
23 minutes ago
- The Herald Scotland
Rate of women being hired into top jobs falls for third year running
This has left the rate of female hires into senior roles back where it was in 2020, according to the figures. The data also showed that while more UK women are now in top management roles than they were in 2019 – at 30.9% last year versus 27.6% in 2019 – the progress has slowed significantly in the past two years, rising by just 0.3 percentage points. The figures suggest it becomes more difficult for older generations to reach senior management, with 19.4% of so-called baby boomers – those born between 1946 and 1964 – in these roles compared with 28.9% for gen X, 36.7% for millennials and 39.3% for gen Z. The statistics, compiled by analysing the group's 43 million-strong membership base across the UK, also show that, as of March, women made up 45.8% of hires in the UK, down 4.6% year-on-year. Globally, the figures paint a similar picture, revealing that less than a third of senior leadership roles are held by women (30.9%) despite making up almost half (43.2%) of the worldwide workforce. This 'drop to the top' is most pronounced in the science, technology, engineering and mathematics (Stem) sector, where only around one in eight (12%) of leadership positions are held by women, according to LinkedIn. It is calling for the Government and businesses to promote hiring based on skills rather than qualifications to help ensure women do not get left behind, in particular amid the shift towards artificial intelligence (AI). Janine Chamberlin, head of LinkedIn UK, said: 'Just as AI is reshaping the workplace and demanding more adaptable, collaborative leadership, we're seeing women's progress into senior roles stall for the third year running. 'Women are 20% more likely to have that multi-domain experience, working across different industries and functions, which creates exactly the kind of flexible, agile leaders businesses need for AI transformation. 'Yet we're locking them out of leadership precisely when we need those skills most.' The online giant believes that a skills-based approach to hiring – through prioritising skills over qualifications in recruitment – could broaden the talent pool for women by 6.3 times globally.
