Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: This is the point the trade unions have made. The failure of the Labour party even to support the policy described at the Opposition Dispatch Box by the hon. Member for Salford and Eccles (Rebecca Long Bailey) concerns investors in new nuclear. In the past, we have been able to establish a common approach in this area so that investors can take a long-term approach with certainty. It would...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I do indeed. The sector deal to which I referred emphasises the role that small modular reactors can play, including on some sites of decommissioned nuclear power stations. That is an important area for the future.

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I am grateful to the hon. Gentleman for his question. I know that the nuclear industry is very important to his constituents, as it is to those of my hon. Friend the Member for Copeland (Trudy Harrison). The hon. Gentleman knows that no one is more committed than I am to the future of nuclear power in this country. It is this Government who have revived nuclear power following more than 25...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: Springfields is very successful and has an active programme of supplying the nuclear industry generally. It will be one of the beneficiaries of the fact that we have restarted the build programme for civil nuclear power in this country. My hon. Friend knows that I will work closely with it and him to make sure that it can bid into those projects when they mature.

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I pay tribute to the workforce and the community that my hon. Friend represents, and indeed to her leadership and advocacy for the case for recognising the strategic importance of that, as well as to that of her neighbouring MPs. I enjoyed spending time with her during the summer visiting Sellafield, as I have done before, and in particular looking at the opportunities in the supply chain for...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: My hon. Friend makes an excellent point. We have established the new nuclear college to ensure that the gap in skills, to which my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon) referred, can be supplied. Apprentices are now being trained for the first time in new nuclear build—an important way our historic strength in new nuclear can be projected forward into the future.

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I am rather surprised by the statement and questions of the hon. Member for Salford and Eccles (Rebecca Long Bailey). First, it is widely known that Toshiba has had to engage in a corporate restructuring because its major nuclear subsidiary, Westinghouse, had to enter bankruptcy proceedings. That is what has happened. When I met the board of Toshiba last week, it was clear that that was the...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: My officials and I, and my ministerial team, talk regularly to countries and companies across the world. When I was in Japan last week, I had discussions with Hitachi, which is actively engaged in negotiations on the Wylfa project. Now that Toshiba has taken its decision, for reasons that everyone understands, and I make no criticism of it—it has been very transparent in the reasons for...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I pay tribute to my right hon. Friend for his important work in re-establishing the civil nuclear industry in this country. He is absolutely right: it is not just investment gaps that cause problems; we lose the ability to train workers in that industry, and we are having to restart training nuclear engineers. In previous statements to this House, I have said that we have accepted the...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: At its board meeting last Thursday, the Japanese company, Toshiba, confirmed that it proposed to wind up its subsidiary NuGen following an earlier decision to exit the overseas nuclear power business. This followed the well known financial difficulties of Toshiba’s US subsidiary, Westinghouse. Following that, Toshiba considered the sale of NuGen, but, having failed to agree terms, the...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: There is no one more committed than I am to the role of renewables in decarbonising our electricity supply. In fact, I am proud that the UK has delivered the fastest rate of decarbonisation in the G20 in the last years. We have created more than 400,000 jobs —many of them in Scotland—in low-carbon businesses and the supply chain. Renewable capacity in this country has quadrupled...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I think the hon. Gentleman knows very well that I think we should have a good trading relationship, including in energy, with the rest of the European Union, as we have had in recent years.

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: My hon. Friend is a great champion of the nuclear sector in Cumbria. It has a bright future. As he knows from the sector deal, there is investment in the supply chain and in reducing the cost of new nuclear, which will be essential if it is to compete with other sources of power. There are also great opportunities through decommissioning, not just in this country, but in selling expertise...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I was very clear and Toshiba was very clear that there were particular circumstances relating to the financial difficulties of its Westinghouse subsidiary. All these projects are promoted by a particular investor. It has made a decision. It is one that I think was widely expected, given those financial difficulties, but it has no implications for any other promoter.

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: I am grateful for the comments from the Chair of the Business, Energy and Industrial Strategy Committee. She will know that it is only very recently that it has been possible to invest in new nuclear. The Labour Government she supported had no future new nuclear build programme. She will know from her visits to Sellafield and other nuclear installations that we are taking forward the...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: There will not be a deficit. We have a substantial—in fact, increasing—pipeline of new investment. One of the features of the energy industry in the UK is that we have not only a pipeline of proposed new nuclear power stations—as I said, they need to meet the value for money threshold—but a substantially increasing volume of investment in renewable energy coming from...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: We have a substantial pipeline of new energy projects, as a number of hon. Members have made clear. When it comes to the Moorside site in Cumbria, it was always available to developers to leave it. It will now revert to the Nuclear Decommissioning Authority. It will be open to developers to come forward to make proposals. However, whether with nuclear or other sources of clean power, we have...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: The first part of the hon. Gentleman’s question makes my point for me. The reason that Toshiba took the decision that it did was to restore robustness to the financing of the company following the chapter 11 bankruptcy proceedings that Westinghouse went into. It has grasped that nettle. On the deployment of renewables, he will know that when it comes, for example, to wind in the remote...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: The right hon. Gentleman is correct in noting that the scale of such projects means the companies proposing them need to have a plan that is financeable and, in this case, a source of technology that is available. I repeat what I said at the beginning, which is that the Westinghouse subsidiary of Toshiba went into chapter 11 bankruptcy. On the tidal lagoon project, I am in favour of diverse...

Nuclear Power: Toshiba (12 Nov 2018)
Greg Clark: We have regular discussions with investors in nuclear. The decision was taken only last Thursday and has some way to go to be implemented, but the hon. Gentleman has my assurance that prospective investors in this site and others will be able to talk, in the first instance, to the NDA, which owns the land, but are also free to discuss these matters with my officials.


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