Energy: Nuclear Power

House of Lords written question – answered on 29th June 2010.

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Photo of Lord Vinson Lord Vinson Conservative

To ask Her Majesty's Government what steps they will take to secure private finance to manufacture key components for the United Kingdom's nuclear industry, following the withdrawal of their loan to Sheffield Forgemasters.

Photo of Lord Marland Lord Marland The Parliamentary Under-Secretary of State for Energy and Climate Change

It is of course a commercial decision for those in the private sector to decide whether or not to invest in the nuclear supply chain, including in the manufacture of key components, in order to take advantage of the opportunities provided by new nuclear power in the UK and around the world.

The Government's role is to encourage private investment in the nuclear industry in the UK through removing unnecessary barriers to new nuclear and by implementing the four facilitative actions on planning, regulatory justification, generic design assessment and on waste and decommissioning finance.

Energy companies have already announced plans to build 16GW of new nuclear in the UK which represents a significant opportunity for UK companies. And the size of the global nuclear market is significant and growing.

This is why we remain committed to the development of strong and competitive UK supply chain and are supporting industry through skills development, apprentice schemes, market information, the Nuclear Advanced Manufacturing Research Centre, the Manufacturing Advisory Service, support to help export promotion, nuclear R&D and the National Nuclear Laboratory.

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