Government commits to multi-billion spend on nuclear energy
Video Credit: ODN - Duration: 04:17s - Published
Government commits to multi-billion spend on nuclear energy
Chancellor Rachel Reeves has signed off on £14.2 billion of investment to build the new Sizewell C nuclear power plant in Suffolk, while Rolls-Royce has been named as the preferred bidder to build small modular reactors (SMRs) in a programme backed by £2.5 billion of taxpayers' cash.
It follows the government’s U-turn yesterday on winter fuel payments and comes the day before the chancellor’s spending review.
Report by Jonesia.
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Rachel Reeves says it is "disappointing" to have a month of "bad data", as the latest figures show the UK economy shrunk by 0.3% in April, a figure higher than expected. But the chancellor says U.S. trade tariffs have had an impact. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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If you sat through the entire spending review speech delivered by Rachel Reeves in the House of Commons, you might have been lulled into a sense that the UK was.. Sky News
Chancellor Rachel Reeves has delivered her first spending review in the House of Commons, giving an indication of the government’s priorities and direction of travel until the end of the current decade. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves said council tax will not rise above 5% a year, sticking to the limit set by the previous government. She said the money supports local services like social care and policing. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Britain and the EU have announced a sweeping reset in their post-Brexit relationship, covering trade, defence, and mobility. The deal allows UK participation in a €150B EU defence program, cuts red tape on food exports, simplifies travel, and opens joint military procurement to firms like BAE and Rolls-Royce. Prime Minister Keir Starmer calls the agreement a step toward stability and prosperity, projecting a £9B boost to the UK economy by 2040. While critics like Nigel Farage slam it as a betrayal, the reset signals a pivot to practical cooperation over political division.
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Sir Keir Starmer promised there would be no more “dithering” about backing nuclear power as the Government committed to the Sizewell C plant. The prime minister said the “change of mindset” would help free the UK from reliance on international fossil fuel markets and prevent price spikes such as those in the wake of Vladimir Putin’s invasion of Ukraine. Speaking at a college in Ipswich, Sir Keir said: “No more dithering, no more delay, no more being unclear about what we’re going to do, a real statement of intent as we go forward.” Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves told the GMB Congress Labour is “investing in the biggest roll out of nuclear power in a generation,” announcing £14.2 billion for Sizewell C. She said energy security is “national security” and confirmed support for small modular reactors and fusion. The Sizewell project will power six million homes and create 10,000 jobs, including 1,500 apprenticeships. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Ed Miliband says the government’s investment in Sizewell C is “the biggest nuclear building programme in more than half a century” which will create 10,000 jobs and help tackle the climate crisis. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Andrew Griffith welcomes the government’s £14bn Sizewell C investment but says it is “painfully slow” and less ambitious than Tory plans. The shadow business secretary blames delays on legal red tape and activists, warning Labour “don’t have the stomach” to reform. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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