nuclear-news

GB Energy’s promised £8.3bn budget raided to pay for small nuclear reactors

 Rachel Reeves has effectively cut £2.5bn from the government’s national
energy company by sharing the £8.3bn it was promised with a separate
nuclear power body set up by the Conservatives. The Labour manifesto had
pledged the full amount to Great British Energy to invest in clean power
projects. However, the chancellor’s spending review said the company
would share this funding with a separate body tasked with spearheading
Britain’s nuclear renaissance. The Treasury’s spending plans said the
“two allied publicly owned companies with a shared mission” would spend
the £8.3bn on “homegrown clean power” including £2.5bn to help the UK
develop a new generation of small modular nuclear reactors.

 Guardian 11th June 2025, https://www.theguardian.com/business/2025/jun/11/gb-energy-83bn-of-funding-raided-to-pay-for-small-nuclear-reactors

June 15, 2025 - Posted by Christina Macpherson | politics, UK