Nuclear expansion could boost economy by £5 billion, EDF report states

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EDF Energy - one of the big six energy companies - has revealed in a report that an expansion of the UK's nuclear reactor fleet could boost the economy by around £5 billion, according to an article published by Reuters.

Around 32,000 jobs could also be created by any expansion.

However, EDF revealed that investors needed to be provided with long-term guarantees before any potential economic gains could be realised.

The Institute for Public Policy Research (IPPR), which was commissioned by the French-owned supplier to compile the report, stated: "Investment in nuclear energy will have benefits in contributing to both economic growth and job creation and has the potential to give Britain a greater share in the export market.

"If the government makes a clear and credible long-term commitment to nuclear energy in the form of a long-term nuclear energy strategy, and if it has all-party support in doing so, then the UK industry can be reasonable confident that there will be steady stream of work and contracts in the future," it added.

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