NIA response to the Autumn Statement
Commenting on the Autumn Statement, Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:
“Today’s autumn statement highlights the importance of the UK’s critical infrastructure with key announcements on the work of the National Infrastructure Commission and the productivity of the UK’s workforce.
“Large scale projects are often affected by the political life cycle and an independent Commission should help overcome this issue and provide greater certainty for both the public and investors. The strategic direction now needs to focus on providing the framework for the UK’s industrial base to maximise the opportunities to drive jobs, growth and exports in low carbon energy infrastructure.
“It is disappointing there was no further clarity on the direction of the Levy Control Framework which is important for investment in vital low carbon energy infrastructure.
“Extending the UK Guarantees Scheme to at least 2026 will be important in underpinning investor confidence as the UK replaces ageing fossil fuel power stations with low carbon generation, including new nuclear power.
“The increase in R&D spending is another welcome move and is rightly a key focus for the Government’s industrial strategy. We urge the Chancellor to come forward quickly with the roadmap and the results of the Phase One competition for small modular reactors, so the industry can capitalise on the international interest and benefit from the supply chain and intellectual property opportunity.”