Nuclear Power: Investment

Debate between Ed Miliband and Blake Stephenson

Tuesday 10th June 2025 Commons Chamber

[Ed Miliband]

My hon. Friend makes an important point: across the lifecycle of nuclear and across the supply chain, there are important economic opportunities. The importance of realising that potential is a constant theme of the questions that we have heard today, and that is what we intend to do.

[Blake Stephenson (Mid Bedfordshire) (Con)]

Global tech giants such as Microsoft and Amazon have announced plans to use SMRs to power their data centres, so they have trust in SMRs. I happen to believe that they should be the future of nuclear in this country. I have a couple of questions for the Secretary of State. The announcement states that a new public company, GB Energy Nuclear, will be set up. Will he set out why a new company is required, how much it will cost the public purse, and why it is based in Warrington? I have nothing against Warrington, of course, but why has the decision been made to place the company there? Will he outline when he expects meaningful deployment of the modular reactors?

[Ed Miliband]

The hon. Gentleman asks good questions. On the first, GB Energy Nuclear is a development of Great British Nuclear, which is based in Warrington. On deployment, I am aware of the record of people who promise deployment that is then not delivered, but the truth is that we expect a final investment decision in the next few years, and deployment in the early to mid-2030s—I think that is the fairest way of putting it. I agree with him about the potential. I also agree—this is why I have said that I am open to the role of the private sector—that private sector partners may want to come in and build sooner, and that would be great.