Govt strategy sets out £15m nuclear investment

By Liz Stephens

The government set out how they plan to invest in low carbon sectors today, announcing the first investments from the £405 million set aside for green initiatives in the Budget.

The Low Carbon Industrial Strategy identifies a range of low carbon sectors with potential for job creation and growth.

Beneficiaries include wave and tidal power, offshore wind farms and ultra-low carbon vehicles.

However, controversial nuclear research was also a beneficiary.

Key investments in low carbon industries and advanced green manufacturing announced included up to £60 million for wave and tidal sectors, £120 million to support the for offshore wind industry and up to £10 million to accelerate deployment of electric vehicle charging infrastructure.

Up to £15 million was also announced for capital investment to establish a Nuclear Advanced Manufacturing Research Centre.

Announcing the strategy Business Secretary Peter Mandelson said: “Low carbon and environmental goods and services are already worth £3 trillion to the global economy, and in the UK employ nearly 900,000 directly and through the supply chain.

“With the sector set to grow by over four per cent per annum over the next six years we must do all we can to support British businesses and workers in benefiting.

“We must ensure that we equip businesses and the workforce with the capabilities and skills to take advantage of the potential benefits as the world moves towards a low carbon future.”

The government also announced the first Low Carbon Economic Area in the South West of England and a new Forum for a Just Transition to advise on how to address the issues of skills redeployment.