On Monday, Prime Minister Rishi Sunak is scheduled to declare £200 million ($252 million) in public funding to promote the UK’s civil nuclear industry and nuclear deterrence program. The government projects that these initiatives would generate 40,000 new employment.
Prior to his statement, Sunak’s Downing Street office released a press release stating that the government would collaborate with prominent companies in the industry, such as BAE Systems, Rolls-Royce, EDF, and Babcock, to allocate a minimum of £763 million by 2030 towards skills, employment, and education.
The purpose of the investment is to guarantee that Barrow-in-furness, a town in northern England, where Sunak is scheduled to make the announcement, “thrives as the home of UK nuclear submarine-building”.
“Safeguarding the future of our nuclear deterrent and nuclear energy industry is a critical national endeavour,” Sunak said ahead of his visit.
“In a more dangerous and contested world, the UK’s continuous at-sea nuclear deterrent is more vital than ever. And nuclear delivers cheaper, cleaner home-grown energy for consumers,” he added.
“That’s why we are investing in Barrow, the home of UK submarines, and in the jobs and skills of the future in the thriving British nuclear industry.”
