Chancellor letter to nuclear regulators and industry
Chancellor urges nuclear regulators and industry to work with Government to address high costs and delay in the sector.
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Three months on from the publication of the final report of John Fingleton’s Nuclear Regulatory Taskforce, the government has today published its response to the recommendations. The government is taking forward all of the taskforce’s recommendations and is publishing an implementation plan. This includes immediately putting in place one lead regulator for nuclear projects, with all reforms expected to be completed by the end of 2027. The plan is expected to reduce the cost and timeframe of delivering new civil and defence nuclear projects, without compromising safety standards and environmental protections.
The Chancellor of the Exchequer has also written an open letter to industry and regulatory leaders. This letter sets out the need for substantial change at all levels within the sector. The Chancellor highlights that the sector must endeavour to strip away duplicative or gold-plated processes, overly complex guidance, rules and regulations.
The Chancellor has asked industry and regulators to assess the way their organisation approaches risk management and to challenge themselves on whether those responsible for risk management are properly equipped and empowered to make proportionate judgements on acceptable risk. Recipients are asked to respond to the letter within six months setting out their plans to implement the required changes.
The government recognises the significant opportunities for the nuclear sector presented by the Taskforce Review and is committed to efficient delivery of nuclear power and the renewal the nuclear deterrent whilst maintaining safety.