Delay announced for Hinkley nuclear plant deal

The government has postponed a final decision on plans to build the first new UK nuclear plant in 20 years until the early Autumn.

The funding had been approved by French energy firm EDF, who will supply the majority of the £18 billion financing the project, with contracts due to be signed.

However, the government has delayed its approval, with Greg Clark, the new Secretary of State for Business, Energy and Industrial Strategy, saying that government will consider carefully the plans. Hinkley Point C is expected to provide seven per cent of the UK's total electricity requirement.

The nuclear plant deal has not been without its critics, with many wary of foreign involvement - as well as EDF, Chinese investors are providing funding - while many are cautious about the environmental impact of the plant.

The GMB union has described the delay decision as 'bonkers', stating that the 'unnecessary hesitation is putting finance for the project in doubt' as well as leaving '25,000 new jobs at risk immediately after Brexit'.

Jean-Bernard Levy, EDF Group chief executive says he remains confident that the project will go ahead.

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