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The British leader said investment was essential in a “more dangerous and conflict-ridden world”.
British Prime Minister Rishi Sunak is set to announce plans to invest 200 million pounds ($252 million) in the country’s nuclear deterrent and civil nuclear industry.
Mr Sunak on Monday announced a “national initiative” to build nuclear submarines and secure the future of the nuclear energy industry, creating 40,000 jobs in the process, Downing Street said in a statement on Sunday.
Under the plan, the government will create a fund to help get people into work, improve transport links and increase housebuilding in the northern English town of Barrow-in-Furness.
The government will also invest at least £763 million ($962 million) in skills, jobs and education by 2030, in partnership with industry players including BAE Systems, Rolls-Royce, EDF and Babcock. said in a statement.
The UK nuclear industry is undergoing an “unprecedented period of growth” driven by the government’s nuclear energy targets and will need 123,000 new workers by 2030, it said in a statement.
The UK’s nuclear submarine industry is also set to grow over the next few years following the signing of the AUKUS security agreement between the UK and US to support Australia’s acquisition of nuclear submarines.
“In a more dangerous and conflict-prone world, the UK’s continued offshore nuclear deterrent is more important than ever,” Mr Sunak said. “And nuclear power provides consumers with cheaper, cleaner, home-grown energy.”
“That’s why we’re investing in future jobs and skills in Barrow, the home of Britain’s submarines, and in Britain’s thriving nuclear industry. We are launching the next generation of nuclear power that will keep nuclear power safe and keep costs down forever.”
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