{"id":284546,"date":"2025-06-09T23:07:27","date_gmt":"2025-06-09T23:07:27","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/rachel-reeves-commits-14-b-to-new-nuclear-plant-project\/"},"modified":"2025-06-09T23:07:27","modified_gmt":"2025-06-09T23:07:27","slug":"rachel-reeves-commits-14-b-to-new-nuclear-plant-project","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=284546","title":{"rendered":"Rachel Reeves Commits 14 B To New Nuclear Plant Project"},"content":{"rendered":"


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Rachel Reeves<\/a> has agreed to spend \u00a314 billion of taxpayers\u2019 money on a nuclear plant at Sizewell C.<\/p>\n<\/div>\n

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The chancellor will announce the move, which is part of her spending review, at the GMB Congress on Tuesday.<\/p>\n<\/div>\n

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It is expected to create 10,000 jobs, including 1,500 apprenticeships.<\/p>\n<\/div>\n

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Energy secretary Ed Miliband<\/a> said the project, which will be the first new nuclear plant to open in the UK since 1995, will help to usher in \u201ca golden age of clean energy abundance\u201d.<\/p>\n<\/div>\n

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Sizewell C was one of eight potential sites for new nuclear plants identified in 2009, when Miliband was last energy secretary.<\/p>\n<\/div>\n

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However, the project was never completed during 14 years of Tory government.<\/p>\n<\/div>\n

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It is expected that the plant will come on stream in the 2030s.<\/p>\n<\/div>\n

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Reeves said the announcement showed that Labour was \u201cinvesting in Britian\u2019s renewal\u201d.<\/p>\n<\/div>\n

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\u201cWe are creating thousands of jobs, kickstarting economic growth and putting more money people\u2019s pockets,\u201d she said.<\/p>\n<\/div>\n

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Miliband said: \u201cWe will not accept the status quo of failing to invest in the future and energy insecurity for our country. <\/p>\n<\/div>\n

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\u201cWe 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. <\/p>\n<\/div>\n

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\u201cThis is the government\u2019s clean energy mission in action \u2013 investing in lower bills and good jobs for energy security.\u201d<\/p>\n<\/div>\n

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The Hinkley Point C nuclear plant, 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.<\/p>\n<\/div>\n

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The government is also due to confirm one of Europe\u2019s first small modular reactor programmes and will invest \u00a32.5 billion over five years in fusion energy research as part of plans to boost the UK\u2019s nuclear industry.<\/p>\n<\/div>\n

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GMB regional secretary Warren Kenny said: \u201cNuclear power is essential for clean, affordable, and reliable energy \u2013 without new nuclear, there can be no net zero.<\/p>\n<\/div>\n

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\u201cSizewell 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\u2019s energy sector.\u201d<\/p>\n<\/div>\n

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But Alison Downes of the \u2018Stop Sizewell C\u2019 group said ministers had not \u201ccome clean\u201d about the full cost of the project, which the group have previously estimated could be some \u00a340 billion.<\/p>\n<\/div>\n

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\u201cThere still appears to be no final investment decision for Sizewell C, but \u00a314.2 billion in taxpayers\u2019 funding, a decision we condemn and firmly believe the government will come to regret,\u201d she said.<\/p>\n<\/div>\n<\/div>\n