To ask Mr Chancellor of the Exchequer, what discussions he has had with the Secretary of State for Business, Energy and Industrial Strategy on the fiscal multiplier associated with the Hinkley C nuclear power station project relative to carbon capture and storage projects.
18 June 2018
As part of our appraisal of energy projects, the Treasury and the Department for Business, Energy and Industrial Strategy (BEIS) assess impacts on the local and UK economy. This is reflected in the Government assurance process for Hinkley Point C, and we continue to monitor the delivery of the project’s economic benefits with the developer. The developer expects the project will contribute £1.5 billion to the local economy during construction and 25,000 job opportunities, whilst up to 64% of the value of construction contracts will be received by UK companies.