Labour pledges £14bn for nuclear to get UK off 'fossil fuel rollercoaster'

The biggest nuclear programme in a generation will "get Britain off the fossil fuel rollercoaster", according to the energy secretary, Ed Miliband, who announced £14.2bn for a new nuclear power station and a drive to build small modular reactors.

- Jessica Elgot

The multibillion-pound investment at Sizewell C on the Suffolk coast, which has been long expected, will create 10,000 jobs and power the equivalent of 6m homes.

Nuclear will be one of the key investments Rachel Reeves will champion at today's spending review, which she hopes will overshadow uncomfortable decisions for the government, including the U-turn on winter fuel allowance and a major row over police funding.

Miliband said that the "golden age" of nuclear investment was critical to the government's net zero goals and said that it would not detract from investments in renewables. "I'm doing this because of my belief that climate change is the biggest longterm threat facing us," Miliband told the Guardian.

"The truth is... we have this massive challenge to get off fossil fuels.

That is the central driving ambition of the government's clean energy superpower mission. We know that we're going to have to see electricity demand at least double, by 2050. All the expert advice says nuclear has a really important role to play in the energy system. In any sensible reckoning, this is essential to get to our clean power and net zero ambitions." The funding pledge is part of the £113bn of new capital investment Reeves will announce in the spending review the Treasury hopes will be the key theme and enough to stave off further disquiet over cuts to day-to-day spending that are expected.

Yesterday it emerged that all departments had settled with the Treasury the spending review after a deal with the home secretary, Yvette Cooper, who was dissatisfied with police funding.