The UK is pushing to create more clean, homegrown power, which would help to protect Brits from energy shocks like Russia’s invasion of Ukraine that sent bills rocketing
A major US-UK deal will herald a “golden age of nuclear” with plans to build new plants, including the potential for up to 2,500 jobs for Teesside.
Ahead of Donald Trump’s much anticipated state visit this week, Keir Starmer said the agreement with Washington would turbocharge the building of nuclear power stations in both countries.
The UK is pushing to create more clean, homegrown power, which would help to protect Brits from energy shocks like Russia ’s invasion of Ukraine that sent bills rocketing.
An agreement due to be signed this week will make it quicker for companies to build new nuclear power stations in both countries, slashing the time it takes for a nuclear project to get a licence from around three or four years to two.
Major new deals expected this week include plans by X-Energy and Centrica to build up to 12 advanced modular reactors in Hartlepool.
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According to the companies, this project would generate enough power for up to 1.5 million homes and create up to 2,500 jobs.
The PM said: “These major commitments set us well on course to a golden age of nuclear that will drive down household bills in the long run, while delivering thousands of good jobs in the short term.
“Together with the US, we’re building a golden age of nuclear that puts both countries at the forefront of global innovation and investment.”
It emerged yesterday that Rachel Reeves is drawing up plans to slash household energy costs in the Budget to ease cost of living pressures on families.
The Chancellor told Cabinet “all options were on the table”, which could include lowering the 5 per cent VAT rate on domestic energy bills to zero, according to the Sunday Times.
This would save households around £86 a year, costing the Treasury an estimated £1.75 billion a year.
A Treasury source downplayed the prospect of a VAT cut but indicated plans were being worked on to reduce energy bills.
The Budget on November 26 is expected to be a pivotal moment for the Government, with Ms Reeves battling to plug a gap in public finances left by U-turns on winter fuel and welfare cuts, and rising borrowing costs.
Separately, the Ministry of Defence announced plans today(MON) for the UK’s largest drone production plant, which will open in Swindon next year, creating 1,000 highly-skilled jobs.
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