Brevia Consulting is providing a weekly round-up and analysis of the UK headlines. This week, read about Prime Minister Boris Johnson’s pledge of £700m to the Sizewell C project, the latest developments in the Conservative Party leadership election, and the funding settlement that has been agreed between Transport for London and the Government.
PM PLEDGES £700M TO SIZEWELL C NUCLEAR PROJECT
In one of his final acts as Prime Minister, Boris Johnson has greenlit £700m of funding for EDF’s Sizewell C nuclear power project in Suffolk. The announcement came as Johnson delivered a speech on the UK’s future energy security, where he called for a focus on long-term policies and a break from the ‘myopia’ of the electoral cycle.[1] During the speech, Johnson criticised Labour and the Liberal Democrats for their past inaction on investing in nuclear energy, though he was silent on the policies of recent Conservative governments. Addressing his successor, currently favoured to be Foreign Secretary Liz Truss, Johnson called for the next PM to ‘go nuclear and go large and go with Sizewell C’.[2] The Queen will receive Johnson at Balmoral next Tuesday for a formal farewell, marking the end of an unforgettable premiership.
LEADERSHIP ELECTION STATE OF PLAY
The near two-month long Conservative Party leadership contest will draw to a close this week, with voting ending at 5pm Friday 2 September and the announcement to follow on Monday. Foreign Secretary Liz Truss has long been the favourite to win and has maintained a comfortable lead over Rishi Sunak for the 12 hustings that have taken place. Politico’s roundup of all the most recent polls of Conservative Party members has Truss winning 59 per cent of the vote, 32 for Sunak and 10 per cent still undecided.[3] Either way, the next PM will be welcomed by one of the toughest in-trays a PM has had to face in recent years, comprised of a worsening cost of living crisis, spiraling energy prices, backlog in the NHS, alongside foreign policy challenges including the war in Ukraine and post-Brexit trading arrangements for Northern Ireland.[4]
NEW TRANSPORT FOR LONDON FUNDING SETTLEMENT AGREED
The Government and TfL have signed an agreement that includes £1.2bn to support the network until March 2024.[5] The rescue package is the fifth that has been wrangled over in two years as TfL continues to suffer from reduced passenger numbers post-Covid. Committed government support now totals £6bn. Transport Secretary, Grant Shapps said the deal shows ‘unwavering commitment to London’ and matches the Mayor’s pre-pandemic spending plans.[6] However, Mayor Khan said he had ‘no choice but to accept’ to prevent TfL bankruptcy and warned that fares will still have to rise and bus services cut to fund a £600m budget shortfall.[7] In return for the support, the Government has attached conditions including income-raising measures, a move to driverless trains and pension reforms.
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Notes
[1] BBC, ‘Sizewell C: Boris Johnson says ‘go nuclear, go large’’, 1 September 2022, Link
[2] The Independent, ‘Energy crisis: Boris Johnson pledges £700m for nuclear, with dig at Truss on fracking’, 1 September 2022, Link
[3] Politico, ‘Truss vs. Sunak Poll of Polls’, 30 August 2022, Link
[4] The FT, ‘The daunting in-tray facing Britain’s next prime minister’, 30 August 2022, Link
[5] Department for Transport, ‘Future of London’s transport network secured with government’s multi-billion pound settlement’, 30 August 2022, Link
[6] Ibid.
[7] Mayor of London, ‘Statement from the Mayor on TfL funding’, 30 August 2022, Link
