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Daily Record
10 hours ago
- Business
- Daily Record
Labour Government to make £250m Faslane investment to boost nuclear deterrent
The cash will be part of the Chancellor's Spending Review. The Labour Government is set to make a £250m investment in the Scottish naval base housing the UK 's nuclear submarines. The cash for Faslane is part of Chancellor Rachel Reeves' spending review, which she will lay out today. She is also expected to unveil £750m for a super-computer at Edinburgh University and release funding for a carbon capture project. A key part of the spending plan is increased funding for public services like the NHS, generating extra resources for Holyrood. She is also preparing to plough £113bn into infrastructure projects such as defence. One of the winners will be HM Naval Base Clyde - commonly known as Faslane - which houses the UK's nuclear subs. Defence Secretary John Healey said: 'We have an unwavering commitment to our nuclear-powered submarines. The long-term, sustained investment for HMNB Clyde will provide the infrastructure necessary to keep our submarines maintained and at sea - continuing to protect us around the clock. 'This funding, and the continued dedication and skill of the men and women that help build and operate our submarines, will ensure we are able to meet the threats we face, while supporting the Plan for Change and showing how defence is an engine for growth, creating good jobs across Scotland.' Scottish Secretary Ian Murray said: "This extra £250 million investment for HMNB Clyde is another fantastic example of how Scotland is at the heart of the UK defence policy. "As home of the Royal Navy Submarine Service - including the UK's nuclear deterrent - HMNB Clyde will play a crucial role for decades to come as we restore Britain's readiness, deter our adversaries and help drive economic growth across the UK, as part of our Plan for Change. "Over 6,500 military and civilian personnel are employed at HMNB Clyde, making it the second largest employment site in Scotland, with a total of around 25,600 jobs across Scotland supported by an annual multi-billion pound Ministry of Defence investment." Backing the supercomputer with £750m will also reverse a decision to suspend funding for the same project in the early days of the Labour Government. Business and academics say the project is vital for driving the UK's AI industry. Reeves is also expected to back development funding for the carbon capture project in Aberdeenshire. The Acorn Project based in St Fergus would take greenhouse gas emissions and store them under the North Sea. It has been on the reserve list of funding for years and calls have been made to kickstart the initiative. Speaking ahead of her announcement in the Commons, Reeves said her spending review will be about 'making working people better off'. The Chancellor said the Government is 'making Labour choices' and 'making progress' in an address to the GMB Union Congress in Brighton on Tuesday. She said: 'I know that not enough working people are yet feeling that progress, and that's what tomorrow's spending review is all about – making working people better off, investing in our security, investing in our health, investing in our economy. This Government is going for growth because that is the best way to create jobs, boost wages, lift people out of poverty, and sustainably fund our schools and our hospitals and all the public services we rely on. 'And we're doing things differently, because unlike the Tories, I don't think that the only good thing that a government can do is get out of the way.' Reeves is now under pressure to reverse course on cuts to incapacity and disability benefits. The Chancellor said the current system is 'not sustainable' and that reforms aimed to get those who can work back into work. The reforms include plans to tighten the eligibility criteria for personal independence payments, known as Pip. SNP Westminster Leader Stephen Flynn MP said: "The real test of the UK spending review will be whether the Labour government abandons its devastating austerity cuts to disabled people, and finally takes the bold action needed to eradicate child poverty - or whether the Chancellor ploughs ahead with billions of pounds of cuts to hard-pressed households. "This is a test of values. Voters were promised change but the cost of living is sky-high, poverty is soaring to record levels on Keir Starmer's watch - and Labour Party austerity cuts are making things even worse. Unless the Chancellor changes course, more families will fall into deprivation and destitution as a direct result of Labour government failure.'
Metro
a day ago
- Business
- Metro
Boost of £14,200,000,000 for new nuclear power plant 'will lead to lower bills'
A new nuclear power station on the east coast of England will be given a £14.2 billion boost to finally get it off the ground. Sizewell C in Suffolk has been mooted as the site of a new facility since at least 2009, when Ed Miliband identified it in his role as the Energy Secretary in the previous Labour government. A decade and a half later, after returning to the same role, Miliband has secured funding from Chancellor Rachel Reeves as part of her major spending review. He said the move would lead to 'lower bills and good jobs for energy security'. The new power station at Sizewell would help fill the gaps left as all the UK's existing nuclear plants, except Sizewell B, are gradually phased out by the mid-2030s. Miliband said: 'We will not accept the status quo of failing to invest in the future and energy insecurity for our country. Craig Munro breaks down Westminster chaos into easy to follow insight, walking you through what the latest policies mean to you. Sign up here. '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.' Sizewell C is described as a 'sister project' to Hinkley Point C in Somerset, which is currently under construction and is set to become the first new nuclear power station in the UK since 1995. However, building work at Hinkley Point is far behind schedule and the budget for the project has ballooned massively since it began in 2017. It is now expected to become operational around 2030. Like Hinkley Point C, it is expected that Sizewell C will be jointly owned by the British government and French energy giant EDF. Campaign groups have said the construction of the new facility would have a 'devastating impact' on its stretch of the Suffolk coast, which is susceptible to erosion. It is set to be built on a platform seven metres above sea level to protect it from the sea as it rises due to climate change. The Labour government has also backed the development of small modular reactors to supply nuclear-sourced power to millions of homes and power-hungry sites like AI data centres. More Trending Once all these projects are in operation, they will 'deliver more new nuclear to grid than over the previous half century combined', according to the Department for Energy Security and Net Zero. Reeves, who will announce the Sizewell C funding later today at the GMB Union Congress, said: 'Today we are once again investing in Britain's renewal, with the biggest nuclear building programme in a generation. 'This landmark decision is our Plan for Change in action. 'We are creating thousands of jobs, kickstarting economic growth and putting more money people's pockets.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Government finally reveals who will get winter fuel payout after U-turn MORE: New solar panels 'could cut people's bills by £530 per year' MORE: Universal digital 'BritCards' on an app could soon be used to prove who you are
