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It’s time to stop Sizewell C to generate ‘Warm Homes’ jobs instead

 March 24 2025, Funding th Future – Tax Research UK.

Campaigners have called on Rachel Reeves and Ed Miliband to stop Sizewell C, and redirect its funding to generate ‘Warm Homes’ jobs in every constituency by the next election.

Their report’s summary says:

There is a clear political advantage from halting Sizewell C and redirecting the billions saved into making millions of homes more energy efficient, thus reducing fuel poverty. This approach will benefit every city, town, village and hamlet in Britain.

It will generate long-term, secure jobs, particularly for young people. It will be quick to implement, so by the next election new jobs and cheaper, warmer, healthier homes will have appeared in every constituency. By contrast, continuing to build Sizewell C and, post 2030, the development of new small modular nuclear reactors, will affect a limited number of constituencies.

Should Sizewell C go ahead, it is expected to cost around £40bn between now and when it opens, potentially around 2040: an average of £2.7bn per year for the next 15 years. Deducting money already spent, if Sizewell is cancelled now, the public money saved by 2030 is £7.1bn, assuming (as seems likely) no private investors are found to share the costs.

We propose that this £7.1bn should be added to the £6.6bn to be spent over the current Parliament on home energy efficiency, as promised in Labour’s 2024 manifesto. This shift of funds would massively increase the chances of achieving the Government’s aim to ‘Make Britain a clean energy superpower to cut bills, create jobs and deliver security with cheaper, zero-carbon electricity by 2030, accelerating to net zero‘. https://www.taxresearch.org.uk/Blog/2025/03/24/its-time-to-stop-sizewell-c-to-generate-warm-homes-jobs-instead/

March 28, 2025 - Posted by Christina Macpherson | business and costs, UK