Nuclear power scheme given £5.5bn of funding

While land between Aldeburgh and Southwold has been earmarked for the development, it could take 12 years to construct

Up to £5.5bn of government money has been unlocked as part of a new nuclear power station subsidy scheme.

The money will be used for "development expenditure" including enabling works at Sizewell C in Suffolk, before a final investment decision is made.

The government has already spent £2.5bn on the project and while a final investment decision is yet to be made, the government says it is "committed" to carrying out the project.

However, campaign group Stop Sizewell C, said the money would dig further into a financial "black hole".

While building permission for the project has been granted for the 3.2 gigawatt site, it could take 12 years to construct if funding is secured.

Land between Aldeburgh and Southwold has been earmarked for the site.

The new Labour government vowed to back this project and other nuclear developments earlier this year

A spokesperson for the Department for Energy Security and Net Zero (DESNZ), said the project would play an "important role" in helping to achieve energy security and net zero.

"Subject to all the relevant approvals we aim to reach a final investment decision before the end of the year, and we have established a new subsidy scheme of up to £5.5 billion to provide certainty and ensure the project has access to the necessary financial support to remain on track.

"Any investment from the scheme will be subject to approvals and in line with the project's spending plans, as agreed by the Government and its co-shareholders."

While Sizewell C would be the main beneficiary, other organisations and individuals would be able to benefit from the scheme too.

'White elephant'

The new Labour government vowed to back this project and other nuclear developments earlier this year.

However, the scheme's opponents Stop Sizewell C claimed the project will be "slow" to build, harm nearby habitats and damage the tourism economy along the Suffolk Coast.

A spokesperson from the group, said the money was an "extraordinary statement".

"Sizewell C has already chewed through £2.5 billion, and now we learn that there is the potential for a staggering £5.5 billion more of our taxpayers' money to be thrown at this white elephant.

"Labour complained about a black hole in the country's finances yet now they are proposing to dig still further."