UK nuclear worth £6.4bn last year

The nuclear power sector contributed £6.4 billion to the UK economy last year. The Nuclear Industry Association (NIA) suggests this economic impact rises to £12.4 billion and provides 155,000 jobs […]

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By Jonny Bairstow

The nuclear power sector contributed £6.4 billion to the UK economy last year.

The Nuclear Industry Association (NIA) suggests this economic impact rises to £12.4 billion and provides 155,000 jobs when the sector’s spend on associated goods and services in the supply chain and wage spending is taken into account.

Each of the sector’s workers contributes an average of £96,600 in value to the economy, 73% higher than the UK average.

As well as accounting for 0.3% of GDP, the industry also generated around £2.8 billion in tax payments in 2016, rising to £4.5 billion when associated spend is included.

In 2016 the sector saved around 22.7 metric tonnes of carbon dioxide, the equivalent of removing one third of the UK’s cars from the road.

In total it produced enough electricity to power 16.3 million homes.

In the north-west and south-west of England, the industry’s activities support £1 in every £50 of economic output.

Tom Greatrex, Chief Executive of the NIA, said: “The nature of the nuclear sector means it creates wealth and prosperity across the country – supporting families and non-nuclear businesses in areas where traditionally jobs have been hard to come by.”

A group of MPs expect the £18 billion cost of Hinkley Point C to hit the UK’s poorest people the hardest.