Britain plans to boost nuclear workforce
Reuters
Published Mar 24, 2024 22:32
LONDON (Reuters) - Prime Minister Rishi Sunak will set out plans to boost Britain's nuclear workforce on Monday, as increased submarine building and the growing needs of the nuclear energy industry are forecast to create 40,000 new jobs by 2030.
The government will partner with defence companies BAE Systems (LON:BAES), Rolls-Royce (LON:RR) and Babcock (LON:BAB) plus energy giant EDF (EPA:EDF) to invest more than 763 million pounds ($961 million) by the end of the decade in skills, jobs and education, it said in a statement.
The government needs to ensure there are sufficient nuclear workers to help build and maintain its fleet of submarines, vital for defence and security as they are the basis of the UK's continuous at-sea nuclear deterrent.
"Safeguarding the future of our nuclear deterrent and nuclear energy industry is a critical national endeavour," said Sunak, who will on Monday visit Barrow-in-Furness in the northwest, where Britain's nuclear submarine industry is based.
"Today we usher in the next generation of our nuclear enterprise, which will keep us safe, keep our energy secure, and keep our bills down for good."
Britain's nuclear submarine industry will expand in the coming years as new boats are built for the UK, and also Australia under the AUKUS security pact.
Further details on how Britain will deliver the capabilities necessary for to maintain its nuclear deterrent will be published by defence secretary Grant Shapps on Monday in the "Defence Nuclear Enterprise Command Paper", Sunak's office said.
As part of it plans to boost the nuclear workforce, the government said it will invest 200 million pounds in Barrow over the next decade to help support people into jobs, improve the area's transport infrastructure and build more homes.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.