UK Prime Minister Rishi Sunak emphasizes the importance of investing in a secure and competitive environment, stating that investment is essential in a world that is becoming more dangerous and contested.
Sunak is set to unveil plans to invest 200 million pounds ($252m) into the UK’s nuclear deterrent and civil nuclear industry. This initiative aims to support the future of nuclear submarine-building and nuclear energy industries, creating 40,000 jobs in the process.
As part of this national endeavor, the government will establish a fund for the town of Barrow-in-Furness in northern England to assist individuals in securing jobs, improving transportation infrastructure, and building more housing. Collaborating with industry leaders such as BAE Systems, Rolls-Royce, EDF, and Babcock, the government plans to invest at least 763 million pounds ($962m) in skills, jobs, and education by 2030.
The UK’s nuclear industry is experiencing significant growth, driven by the government’s nuclear energy targets, with a projected need for 123,000 new workers by 2030. The expansion of the UK’s nuclear submarine industry is also on the horizon, following the establishment of the AUKUS security pact with the United States and Australia.
Sunak stresses the importance of the UK’s continuous at-sea nuclear deterrent in an increasingly dangerous world and highlights the benefits of nuclear energy in providing affordable, sustainable energy sources. The investment in Barrow and the British nuclear industry aims to ensure the country’s security, energy stability, and affordability for consumers in the long term.