GB Energy’s promised £8.3bn budget raided to pay for small nuclear reactors

National energy company effectively loses 2.5bn to separate body tasked with spearheading nuclear renaissance

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Rachel Reeves has effectively cut 2.5bn from the government's national energy company by sharing the 8.3bn it was promised with a separate nuclear power body set up by the Conservatives.

The Labour manifesto had pledged the full amount to Great British Energy to invest in clean power projects. However, the chancellor's spending review said the company would share this funding with a separate body tasked with spearheading Britain's nuclear renaissance.