Nuclear energy is set to be classified as sustainable so the industry can have the same access to investment incentives as renewables, the UK chancellor has said.
In his Spring Budget delivered on Wednesday, Chancellor of the Exchequer Jeremy Hunt said the government will launch a Great British Nuclear scheme to “bring down costs” and “provide opportunities” in the supply chain, with a view to nuclear power providing 25 percent of the UK’s electricity by 2050.
“But because the wind doesn’t always blow and the sun doesn’t always shine, we will need another critical source of cheap and reliable energy,” said Hunt. “And that is nuclear.”…