Sir Keir Starmer will visit the region to launch huge new project expected to bring in thousands of jobs for local people
Prime Minister Sir Keir Starmer will today announce a multi-billion-pound energy plan the government says will create two thousand jobs for local workers.
Sir Keir, who will today visit the region with Chancellor Rachel Reeves and Energy Secretary Ed Miliband, will confirm a huge £21.7 billion of long-term funding for the UK’s first large-scale carbon capture sites in our region and in Teeside. It is hoped the huge projects will result in thousands of local, skilled jobs and will attract billions of pounds of private investment along the way.
The government has reached a commercial agreement with industry and secured the funding to officially launch carbon capture in the UK. Carbon Capture, Utilisation and Storage (CCUS) technology removes CO2 emissions before they reach the atmosphere and stores them safely underground.
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The government says that major funding for the two carbon capture sites will “inject growth into the industrial heartlands of the North West and North East of England” and will directly create 4,000 jobs, supporting 50,000 more in the long-term.
The two projects set to receive the funding are HyNet, which will capture emissions from factories and plants in the north west and North Wales, storing them under the seabed in Liverpool Bay and the East Coast Cluster, which will take emissions from industry in the north east and store them under the North Sea.
Across the two sites, today’s announcement confirms up to £21.7 billion will be available over a 25-year period. The aim is to make the UK an early leader in both CCUS and storage and hydrogen.
Carbon capture is also seen by the government is a crucial technology to help the UK accelerate towards net zero in 2050. It is hoped that these two new sites will help to remove more than 8.5 million tonnes of carbon emissions each year – the equivalent of taking four million cars off the road.
Speaking ahead of his visit to our region today, Sir Keir said: “We’re reigniting our industrial heartlands by investing in the industry of the future. For the past 14 years, business has been second-guessing a dysfunctional government – which has set us back and caused an economic slump.
“Today’s announcement will give industry the certainty it needs – committing to 25 years of funding in this groundbreaking technology – to help deliver jobs, kickstart growth, and repair this country once and for all.”
Chancellor of the Exchequer Rachel Reeves, MP said: “This game-changing technology will introduce 2,000 valuable jobs and attract billions in private investment to communities across Merseyside, reigniting the North West economy. We are driving growth and investment across the country so we can rebuild Britain and make everyone better off.”
Energy Secretary Ed Miliband said: “Over the past few weeks, we have shown just how much of a hurry we are in to deliver clean, cheap power for families – and to deliver a just transition that delivers good, skilled jobs.
“The North West has a proud history of being at the forefront of the industrial revolution – with HyNet, it is now leading the world in the green energy transition. Carbon capture will create 2,000 jobs in a major boost for the local economy – providing opportunity and spreading prosperity across the region.”
It is hoped that the carbon capture, usage and storage industry can support 50,000 good, skilled jobs as the sector matures in the 2030s as the country transitions away from fossil fuels. The government hopes that an up and running carbon capture industry will add around £5 billion per year to the UK economy by 2050.
Welcoming the government’s announcement, Steve Rotheram, Mayor of the Liverpool City Region said: “Today’s announcement is about reigniting Britain’s industrial heartlands, and the Liverpool City Region is ready to lead the charge. By investing in carbon capture technology, we’re not only cleaning up our environment but also creating thousands of skilled jobs and driving billions of pounds in private investment into our region.
“As the UK’s Renewable Energy Coast, the Liverpool City Region has already positioned itself at the forefront of the green industrial revolution. This commitment takes us another step closer to our ambitious net zero goals. It’s a powerful reminder of what can be achieved when local leaders and government work together, turning environmental challenges into economic opportunities that deliver real growth.
“This will help stop carbon escaping into the atmosphere but, beyond that, it will help to turbocharge our economy and ensure the future is built on sustainable foundations, with good jobs and opportunity for all. The Liverpool City Region is ready to be a driving force for change, both for our environment and our economy.”
