Boris Johnson has greenlit funding for a new multibillion-pound nuclear power station, triggering concerns among some of Liz Truss’s allies that it could limit her economic vision.
Whitehall sources confirmed the Prime Minister and Chancellor Nadhim Zahawi have given the go-ahead for financing for the construction of the Sizewell C nuclear reactor in Suffolk.
Private funding will be sought for the project estimated to cost £20-30 billion. The Government is then set to make a final decision on public investment early next year, with it expected to buy a 20% stake in the plant, costing up to £6 billion.
Business Secretary Kwasi Kwarteng, who is tipped to be Ms Truss’s chancellor if she wins the Tory leadership race, is said to be “massively” on board with the plan. But her camp did not appear to be united on the issue, with Chief Secretary to the Treasury Simon Clarke raising concerns with Mr Johnson and Mr Zahawi.
In a letter leaked to the Sunday Times, Mr Clarke suggested that acting now would tie the hands of their successors. Mr Clarke, who is expected to get a senior Cabinet job if Ms Truss wins, said the costs of Sizewell C are “sufficient to materially affect spending and fiscal choices for an incoming government, especially in the context of wider pressures on the public finances”.
While essentially a caretaker Prime Minister after being forced to resign over a succession of scandals, Mr Johnson previously said he would not be making major decisions before leaving office.
Just like BJ … spending billions of pounds of taxpayers’ money before he’s booted out and leaving a successor to sort out the ramifications …
Call me Mr Sceptical. But I smell something rotten in all of this. There is a lot of money being bandied about. Difficult enough for an honest man not to be enticed. What chance with a conman like bojo and his cohorts. Wouldn’t be surprised if someone was topping up their holiday fund.
@Davenorave , List of Boris’s projects so far.
1/ Garden , Bridge. cost + -. £1,000,000
2/ HS2. cost+ - £80,000,000,000
3/ Track and Trace,. cost + - £15,000,000,0000
4/ Furlough. cost +. - ???
Boris must be very rich by now ??
About bloody time. It’s a pity they didn’t start building it at least ten years ago, then we wouldn’t be at the mercy of the fast (purely political) reducing fossil fuels or inefficient wind power. Nuclear power should have been in place and working, well before they shut down and destroyed the conventional power stations.
Having read this again, I must say that just because BJ has signed off on it, it doesn’t mean it will go ahead. Especially if the govt still have to make a further decision later on…when BJ is far far away, and Truss the Trooper is stomping through our lives.
Gives out our money as lucrative contracts to the chumocracy, Tory donors and his mates?
He probably just wanted to get a last one in, he’ll have a new house to decorate and where will his free holidays come from if he hasn’t handed out any favours and mutual back scratching?
Always a possibility. I suspect that it’s a bit of mischievous reporting that has omitted to mention certain potential facts relating to pre-agreed terms and conditions and dates which may have been punitive had the PM not signed in time.
