Spring Budget 23: Chancellor promises action on carbon capture and nuclear in 'clean energy reset'

Great British Nuclear announced

Jeremy Hunt confirmed plans to provide £20bn of support for carbon capture projects and deliver small modular reactor funding competition.

Chancellor Jeremy Hunt has today (15 March) announced plans to drive investment in new carbon capture utilisation and storage (CCUS) and nuclear projects, as part of a Budget in which he promised to boost UK energy security and establish the country as a "science and technology superpower". As had been previously trailed, Hunt this afternoon confirmed plans to provide £20bn of support for CCUS projects over the next 20 years, as the Treasury announced a shortlist of projects for the first phase of CCUS deployment will be unveiled later this month. Hunt said the programme would support...