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to power 6 million homes, employing 10,000 people, supporting thousands more jobs across
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the UK, including 1,500 apprenticeships, and putting hundreds of millions of pounds
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into the supply chain. And that's not all Congress. Because this government backs British
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innovation, and because the potential for faster, cleaner, cheaper energy is there
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We will be backing new small modular reactors, investing in that technology and in the rapid deployment of fusion technology, backing our world-leading fusion plant in Nottinghamshire, providing a route for private sector-led advanced nuclear projects to be deployed here in the UK, bringing those jobs to Britain
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the international energy agency estimates that the small modular reactor market will be worth
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up to 500 billion pounds by 2050 so if we want those jobs we want that wealth and we want to
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leave the world then we must act today and we are to start that means investing two and a half
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billion pounds to enable one of the world's first small modular reactor programs supporting
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3,000 jobs in the East Midlands in the process A first step towards our ambition for a full fleet of small modular reactors across our country And I can tell you today that following a two competition
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we have selected the preferred company to partner with Great British Nuclear to develop small
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modular reactors. That preferred partner is Rolls-Royce, a great British business based in Derby
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And Congress, I can tell you now that Taken Together, tomorrow's spending review sets out over £30 billion of investment in Britain's nuclear-powered future
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Friends, this Labour government is launching a new era of nuclear power here in Britain
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And as we build, for transport, for jobs, for energy
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that will mean jobs in British supply chains for our young people
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Today's announcements are another step towards that great British nuclear ambition to make sure 70% of its future fleet is made here with homegrown content
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We already taken steps to modernise our approach to public procurement with simpler rules and a focus on growth here at home And we will look to go even further to reform and streamline those procurement processes
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And because our industrial ambitions rely on the ambitions and the talents of our young people
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we will break down the barriers that those young people face in getting the skills and opportunities they want and deserve
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And a strong national economy, investing in new nuclear, new transport, new military hardware, will mean something else too
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New orders for steel. Steel made in Britain. In April, as a government, we faced a choice
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To allow British steel in Shorpe to go under. Or to intervene
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in a way that British governments have been too reluctant to do for far too long
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I was not prepared to tolerate a situation in which Britain's steel capacity was fundamentally undermined
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in which our infrastructure, our industries, our security would become dependent on imported steel
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And I was not prepared to see another working community lose the pride lose the prosperity and the dignity that industry provides So this Labour government intervened to save British Steel and the thousands of jobs that go with it
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And I can tell you today that the package that I have set out
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will provide more than £420 million of additional funding for Sheffield Forgemasters
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for the production of nuclear-grade steel for our nuclear ambitions. thriving steel, thriving defence and thriving energy industries
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we've made in Britain a mark of quality around the world, industries that bring pride, industries that bring good work
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and wages that flow back onto our high streets and into our communities
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Once again, things made in Britain, things made to last. Congress, I know whose side I am on
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I know whose side this government is on. We promised you a government in the service of working people
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A government backing Britain's industry. Backing Britain's jobs. And backing Britain's workers
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Consider that a promise made and a promise kept. Thank you, Congress
