Great British Energy: Nuclear Development

Lord Beamish Excerpts

Tuesday 22nd July 2025 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

I thank the noble Earl for that question but I do not think that the Great British Energy budget has been cut. The £8.3 billion will be spent between the two allied companies. The small modular reactors programme, if we get a fleet of them, will generate enough energy for over 3 million homes and create thousands of jobs. In April, Great British Energy announced £3 million for offshore wind supply chains. In June, we announced another £700 million investment in clean energy supply chains. We are doing everything that we possibly can with this money, and it acts as a catalyst for future investment. All sides of the House welcome the money that we are putting into small modular reactors.

[Lord Beamish (Lab)]

My Lords, my noble friend mentioned small modular nuclear reactors, in which the UK clearly has an advantage in terms of technology. How can he ensure that jobs in the UK economy will be underpinned by that programme? Will it encourage young people to get into the nuclear field?

[Lord Wilson of Sedgefield (Lab)]

It is vital that we invest in nuclear. It will add to the baseload for electricity generation into the future. We want to see young people attracted into the industry, and growth in apprenticeships. We also want the supply chains to be focused not just in one area but around the country, in regions such as mine and my noble friend’s in the north-east of England.