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Sizewell C: Government expected to approve funding for new nuclear plant in coming weeks | Politics News



Government funding for a new multibillion-pound nuclear power plant in Suffolk is expected to be approved in the coming weeks.

Whitehall sources said it was not yet clear whether the government’s decision to invest in Sizewell C was made prior to the change in chancellor, but insisted it was likely to get the green light.

This funding involves an initial sum of around £1.7 billion, which is part of an existing budget.

The new prime minister will make a final investment decision early next year and could see the government invest several billion dollars more in the new plant.

Business Minister Kwasi Kwarteng is said to be promoting the project, and Boris Johnson and Prime Minister Nadhim Zahawi are also said to be involved.

Mr Kwarteng – who is expected to become prime minister in the Liz Truss government – wrote in The Mail on Sunday that the government should “add more nuclear power plants” to strengthen the country’s energy security. Older brother.

However, other allies of Liz Truss seem to express concern that a decision in the next two weeks will be binding on the new administration.

In a letter leaked to The Sunday Times, Finance Minister Simon Clarke said the cost of Sizewell C was “enough to materially influence spending and fiscal options for a government.” coming, especially in light of greater pressure on public finances.”

Government sources say Mr Clarke is acting as a minister as treasurer and the final decision on Sizewell C will be made by the next administration.

Despite being essentially a looked after Prime Minister, Mr Johnson has previously said he will not make major decisions before leaving office.

Ms Truss, who took the lead to replace Mr Johnson on September 6, has pledged to cut taxes, including reversing a national insurance increase that costs at least £30bn a year.

Read more about Sizewell C:
New nuclear power plant approved by government to develop
Government gets 20% stake in next-generation scheme worth £20 billion
Sizewell C nuclear project wins £100m in cash from government

But she is under increasing pressure to provide extra support to the most vulnerable, as experts warn the energy price cap could surpass £6,000 in April in a single wave. increased pain further.

Development consent for Sizewell C was given in July, but negotiations over a financial investment decision are still ongoing.

A government spokesman said: “Nuclear energy plays an important role as we work to reduce our reliance on fossil fuels and exposure to volatile global gas prices.

“Negotiations are still ongoing on Sizewell C and as these are commercially sensitive and active discussions, we are unable to comment further.”



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