The Nuclear Industry Association has welcomed the Chancellor’s endorsement of John Fingleton’s Nuclear Regulatory Review in her Budget speech, in which she described the report as “an ambitious plan to cut the red tape that has tied our nuclear industry in knots for decades.”
The government confirmed that it accepts the principle of all the recommendations and will publish a full implementation plan within three months.
In another major win for the industry, the government has confirmed that nuclear has been added to the UK’s Green Financing Framework, ensuring it can access the same investment incentives as other clean energy technologies and helping to reduce the cost of capital for new projects.
In response, Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:
“We welcome the Chancellor’s support for the Nuclear Regulatory Review and her commitment to publish a plan within the next three months. It’s now crucial that the government sticks to this timeline and adopts the Taskforce’s recommendations with urgency, so we can maintain momentum and turn these proposals into reality – strengthening our energy security and ensuring reliable, clean power for decades to come.
“We also strongly welcome the announcement that nuclear will be included within the UK’s Green Financing Framework. This is a vital step that will help reduce the cost of financing, unlock investment at scale and put nuclear on a level footing with other clean energy technologies.”
ENDS
About the Nuclear Industry Association
As the trade association for the civil nuclear industry in the UK, the Nuclear Industry Association represents more than 250 companies across the UK’s nuclear supply chain.
