Prime Minister of United Kingdom, Rishi Sunak is planning to unveil a $252 million investment in UK’s nuclear deterrent and nuclear energy. Sunak’s government said on March 24th that they will announce a “ national endeavor” on March 25th, to settle and secure the future of the nuclear energy industries and also of nuclear submarine building.
These projects are also going to support over 40,000 new jobs in the process. In the press release the Rishi Sunak’s office said that that the government is planning to partner with leading industries like Rolls-Royce and EDF , Babcock and BAE Systems to make an investment by 2030 of nearly $962 million in the skills.
Nuclear Industry and Nuclear Submarine Industry
They said that the nuclear industry of United Kingdom is currently at an “unprecedented period of growth.” This is because of nuclear energy targets set by the government and by 2030 there will be a requirement of 123,000 workers.
Under the AUKUS Security Pact, the United States of America and United Kingdom are supporting and helping Australia to get nuclear powered submarines. After the formation of AUKUS Security Pact, United Kingdom’s nuclear submarine industry will also be developing and growing in the following years. Prime Minister Rishi Sunak said that nuclear energy is one such which is less expensive and home-grown energy for the users of it.
Sunak Government Should Increase the Spending in Defense
The government decided to increase the spending in defense sector after to 2.5 percent of the total GDP. This happened after some ministers requested Mr. Sunak to increase the spending. The increasing challenges due to the rising concerns in the Middle East and the threat from Russia , are the major reasons behind the increase in the defense spending.
The Chancellor ,Jeremy Hunt told the Member of Parliament that the defense spending will rise to 2.5 percent of the GDP , when the economic scenario in UK allows. He also said that in the spring budget the spending couldn’t increase but as soon as the economic conditions will permit, they will increase it. Defense secretary Grant Shapps said that he wishes to see the increase in the military spending to 3 percent of the total GDP.
What did Prime Minister Rishi Sunak say?
Mr. Sunak said that with this the United Kingdom will enter in the nuclear enterprise of the next generation. This will ensure safety, keep the bills low and it will ensure to keep the energy secured. PM said that That is why they are investing in Barrow, which is the the home of submarines in UK, and in the other sectors like , jobs and skills of the future as this will help in thriving British nuclear industry.
He also said that with this his government has announced the largest rise and increase in the spending in defense since the Cold War times.
Industry Leaders are Welcoming the Plan
The industry leaders who are becoming partners in this are also happy. The CEO of BAE Systems, Charles Woodburn, said that that they are extremely proud of the role they have in Dreadnought, Astute, and the latest SSN-AUKUS programmes.
Also ,the CEO of Babcock International, David Lockwood, called this as a fantastic opportunity for the United Kingdom to to deliver itself as a stronger nuclear industry.
