Rachel Reeves approves new £14 BILLION to Sizewell C nuclear plant: 'Backing Britain's jobs!'

GB News

Rachel Reeves agreed to spend £14 billion of taxpayers’ money on a nuclear plant at Sizewell C.The Chancellor announced the move, which was part of her spending review, at the GMB Congress this morning.Speaking at the Congress, the Chancellor said: " I can tell you today that the package that I have set out will provide more than £420 million of additional funding for Sheffield Forgemasters, for the production of nuclear grade steel for our nuclear ambitions. "Thriving steel, thriving defence and thriving energy industries with Made in Britain a mark of quality around the world. Industries that bring pride. Industries that bring good work and wages that flow back onto our high streets and into our communities once again. "Things made in Britain. Things made to last."WATCH THE CLIP ABOVE FOR MORE

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00:00to power six million homes, employing 10,000 people, supporting thousands more jobs across

00:07the UK, including one and a half thousand apprenticeships, and putting hundreds of

00:13millions of pounds into the supply chain. And that's not all Congress. Because this

00:19government backs British innovation, and because the potential for faster, cleaner, cheaper

00:24energy is there. We will be backing new small modular reactors, investing in that technology

00:32and in the rapid deployment of fusion technology, backing our world-leading fusion plant in Nottinghamshire,

00:39providing a route for private sector-led advanced nuclear projects to be deployed here in the

00:46UK, bringing those jobs to Britain. The International Energy Agency estimates that the small modular

00:53reactor market will be worth up to 500 billion pounds by 2050. So if we want those jobs, we

01:02want that wealth, and we want to lead the world, then we must act today. And we are. To start,

01:10that means investing two and a half billion pounds to enable one of the world's first small modular

01:16reactor programs, supporting 3,000 jobs in the East Midlands in the process. A first step

01:23towards our ambition for a full fleet of small modular reactors across our country.

01:29And I can tell you today that following a two-year competition, we have selected the preferred

01:35company to partner with Great British Nuclear to develop small modular reactors. That preferred

01:41partner is Rolls-Royce, a great British business based in Derby.

01:52And Congress, I can tell you now that Taken Together, tomorrow's spending review sets out over £30

01:59billion of investment in Britain's nuclear-powered future. Friends, this Labour government is launching

02:07a new era of nuclear power here in Britain. And as we build, for transport, for jobs, for energy. That

02:22will mean jobs in British supply chains for our young people. Today's announcements are another step

02:29towards that great British nuclear ambition to make sure 70% of its future fleet is made here with home-grown

02:38content. We've already taken steps to modernise our approach to public procurement with simpler rules

02:45and a focus on growth here at home. And we will look to go even further to reform and streamline those

02:53procurement processes. And because our industrial ambitions rely on the ambitions and the talents of

02:59our young people. We will break down the barriers that those young people face in getting the skills and

03:04opportunities they want and deserve. And a strong national economy, investing in new nuclear, new transport,

03:12new military hardware, will mean something else too. New orders for steel. Steel made in Britain.

03:21In April, as a government, we faced a choice to allow British steel in Scunthorpe to go under or to intervene

03:36in a way that British governments have been too reluctant to do for far too long. I was not prepared to

03:44to tolerate a situation to tolerate a situation in which Britain's steel capacity was fundamentally

03:49undermined. In which our infrastructure, our industries, our security would become dependent on imported steel.

04:02And I was not prepared to see another working-class community lose the pride, lose the prosperity,

04:10and the dignity that industry provides. So this Labour government intervened to save British steel and

04:18the thousands of jobs that go with it.

04:25And I can tell you today that the package that I have set out will provide more than £420

04:31million of additional funding for Sheffield Forgemasters for the production of nuclear-grade steel for our

04:38nuclear ambitions. Thriving steel, thriving defence, and thriving energy industries. We've made in Britain

04:47a mark of quality around the world. Industries that bring pride, industries that bring good work,

04:54and wages that flow back onto our high streets and into our communities. Once again, things made in Britain,

05:03things made to last. Congress, I know whose side I am on. I know whose side this government is on. We promised

05:17you a government in the service of working people. A government backing Britain's industry, backing Britain's

05:25jobs and backing Britain's workers. Consider that a promise made and a promise kept. Thank you, Congress.

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