New Oxford Economics analysis outlines Sizewell C’s “major boost” to UK economy

The new report states that Sizewell C will be a “major boost” to the East of England especially, enabling an approximately 22% expansion in the Suffolk’s GVA by 2050 relative to Oxford Economics’ baseline forecast, outperforming all growth across both the national economy and each of its 12 other regions and the national average.

The project has already committed to investing £4.4bn into the East of England, where it is under construction on the Suffolk coast.

The benefits will be felt across the UK too: a third of GVA impacts and over two-fifths of employment benefits will be sustained outside of the East of England.

The Oxford Economics report also found that Sizewell C will sustain an average of 8,800 direct and indirect jobs each year through direct employment and the wider supply chain, onsite and offsite, across all regions of the UK. In Suffolk, at the peak of construction, this could reduce local unemployment by up to 1,700–2,200 people, cutting the county’s jobless rate from 2.7 per cent to as low as 1.7 per cent.

Sizewell C has already delivered over £2.8bn in contracts for over 400 UK suppliers – and will award 70% of its construction value to UK businesses.

Julia Pyke and Nigel Cann, joint managing directors of Sizewell C, said: “The Oxford Economics Report confirms what we’ve always set out to do here at Sizewell C, and that’s to showcase how major infrastructure can deliver real, long-term value for people – not just in terms of clean energy, but through jobs, skills, and social impact that lasts.

“We’re doing infrastructure differently by investing in communities, creating high-quality careers, supporting education, and building a legacy of opportunity. This is a model for how large-scale projects can drive positive change, not just in Suffolk, but across the whole of the UK.”

The report also found that Sizewell C will generate £513m of annual tax receipts during its construction phase – equivalent to the median salaries of 14,400 nurses or 13,100 primary school teachers. In total, the project will generate £33.8bn in total tax revenues throughout its life.

Sizewell C – which recently achieved financial close – is the first British-majority owned nuclear power station in decades, and is backed by major investors including UK Government, La Caisse, Centrica, EDF and funds advised or managed by Amber Infrastructure Group, including International Public Partnerships and the Nuclear Liabilities Fund.

Once operational, Sizewell C is expected to deliver around £2 billion in annual savings across the future low-carbon electricity system— while strengthening energy independence by reducing reliance on imported fossil fuels.

Energy Secretary Ed Miliband said: “Our clean energy superpower mission is revitalising communities up and down the UK.

“In backing Sizewell C and delivering a golden age of nuclear, we are boosting Suffolk’s economy while supporting thousands of new jobs for generations.”

The Sizewell C project has already committed to:  

• Invest £39.5m in a new permanent post-16 college in the project’s host town of Leiston, which also includes the creation of an Apprenticeship Support Hub and dedicated Training Centre of Excellence
• Deploy a £12.8 million Skills investment fund to Enhance Regional Capability, through funding and supporting curriculum development and facility upgrades in local colleges.
• Establish the Sizewell C Jobs Service as the central hub for job matching and advice
• Create and launch an Employment Outreach Fund with social partners and community groups, to create opportunities for hard to reach groups.
• Train 1,500 apprentices, with at least 540 coming from Suffolk

Jack Abbot, MP for Ipswich, said: “The publication of the Sizewell C economic impact assessment confirms what I’ve always known, Sizewell C is a game changer for Ipswich, Suffolk and the East of England, an engine for growth and opportunity.

“The project will bring huge benefits to our region, creating thousands of jobs and generating billions of pounds worth of investment.

“I’m particularly proud of the agreement I negotiated and signed which secures 500 jobs for people in Ipswich, ensuring that our town is at the heart of this once-in-a-generation opportunity.”

Jess Asato, MP for Lowestoft, said: “The Sizewell C Economic Impact Assessment is an important milestone, setting out clearly the scale of benefits this project will bring to Suffolk and the wider region. Sizewell C offers a major opportunity to boost our local economy and create thousands of much-needed jobs. Thanks to my jobs pledge with Sizewell C, 500 roles will be secured for people in Lowestoft, ensuring local people feel the benefits.”