Nuclear deal secures long-term employment

China’s investment in Hinckley Point nuclear power station has today (Wednesday October 21) raised concern about the financing of future infrastructure projects in the UK.

Unite welcomed the deal saying it would give much needed employment for skilled workers in the south west.

“We welcome the news today as securing long-term employment for our skilled members in the region and also contributing to future energy security,” said Kevin Coyne, Unite national officer for energy.

Although Hinckley Point has successfully raised the finance it has taken a long time.

“We need to ask as a country whether this investment model is the best and most cost effective way of financing much needed investment in future UK infrastructure projects,” said Kevin.

The private sector struggles to provide the necessary money for large scale schemes like Hinckley Point.

“The case for greater government involvement in terms of long-term finance in such projects becomes clearer by the day. Hinckley Point is being built and financed by two non-UK entities,” he added.

No room for complacency

 

But Kevin warned that there is no room for complacency and that the UK is not out of the woods yet in terms of strategic energy blueprint.

“This is something that energy secretary Amber Rudd needs to tackle as a matter of urgency,” he said.

Unite has repeatedly warned that business and domestic consumers face very real prospect of power cuts if such a strategy is not forthcoming very soon.

The final investment decision on the project by the plant’s constructor EDF Energy should now be made before Christmas.