New Nuclear Energy Will Boost The Economy
27 June 2012 12:00 - Phoebe Robinson

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New Nuclear Energy Will Boost The Economy 

EDF Energy has put forward plans to build new nuclear power plants at Hinkley point in Somerset and Sizewell in Suffolk. The plant will have a combined capacity of 6.4 gigawatts, this amount of power is enough to power 10 million homes. 

New data released form the institute of Public Policy Research (IPPR) suggest that these new plans  for new nuclear energy capacity in the Uk has the potential to create more than 32,000 jobs and also give a extra lift to UK exports.  It is thought that UK GDP would benefit by up to 0.34% a year, representing an annual economic gain of £5.1billion.

“Investment in nuclear energy will have benefits in contributing to both economic growth and job creation and has the potential to give Britain a greater share in the export market,” the IPPR report adds.

It has been predicted that investment into nuclear power could have an effect of creating 22,000 new jobs a year, together with a further 10,000 more as a result of the knock-on effect on economic activity.

The Minister for the Department for Business, innovation and skills, said “This much-needed investment could create significant numbers of jobs for years to come as well as increase UK export potential.

“New nuclear build is an important part of the diverse energy mix we need for the UK’s low-carbon future.”

And it seems like the plan will move at sufficient speed as the chief executive for EDF Engergy told MPs recently that the project was close to making some vital decisions and design and planning consent are set to be determined within the year.