Prime Minister Rishi Sunak will on Monday announce £200 million ($252 million) of public investment to boost the UK's nuclear deterrent programme and its civil nuclear industry, which the government says will support 40,000 expected new jobs.
The government will partner with industry leaders including BAE Systems, Rolls-Royce and EDF and Babcock to invest at least o763 million by 2030 in skills, jobs and education, Sunak's Downing Street office said in a press release ahead of his announcement.
The investment aims to ensure that the northern England town of Barrow-in- Furness, where Sunak will make the announcement, "thrives as the home of UK nuclear submarine-building".
"Safeguarding the future of our nuclear deterrent and nuclear energy industry is a critical national endeavour," Sunak said ahead of his visit.
"In a more dangerous and contested world, the UK's continuous at-sea nuclear deterrent is more vital than ever. And nuclear delivers cheaper, cleaner home-grown energy for consumers," he added.
"That's why we are investing in Barrow, the home of UK submarines, and in the jobs and skills of the future in the thriving British nuclear industry."