Huge boost for UK as £14.2 billion announced to build major nuclear plant

Ed Miliband will herald the “golden age” of nuclear while confirming £14.2billion investment to build Sizewell C. Ten thousand jobs will be created, including 1,500 apprenticeships, and support thousands more jobs across the UK.

Energy Secretary Ed Miliband said: “We will not accept the status quo of failing to invest in the future and energy insecurity for our country. 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.”

The equivalent of around six million of today’s homes will be powered with clean homegrown energy from Sizewell C, in Suffolk.

The announcement comes as the Government is set to confirm one of Europe’s first Small Modular Reactor programmes.

Chancellor of the Exchequer, Rachel Reeves, 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 in people’s pockets.”

The Chancellor to confirm funding at the GMB Congress ahead of Spending Review on Wednesday.

Sam Richards, CEO of Britain Remade, said: "This new funding for Sizewell C is a vital step toward delivering the secure, domestic clean energy that nuclear power provides. But if we’re serious about energy security, hitting net zero, and reindustrialising our economy, the government must go much further.

“New nuclear projects in Britain still take far too long and cost far too much to build. If we want new nuclear to be delivered faster and more affordably, we need to cut bureaucratic red tape, speed up the planning process, and show a real commitment to building a genuine fleet of nuclear power stations - similar to the successful approach taken by South Korea who are able to build nuclear power stations six times cheaper than we do. Britain once led the world in nuclear energy; there’s no reason we can’t do it again."