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<p>The government recognises the potential for the UK to become a leader in developing
the next generations of nuclear technologies, provided there is demonstrable value
for money for consumers and taxpayers. The Nuclear Sector Deal published last year
outlines the government’s ongoing commitment to nuclear innovation, including a new
framework to support the deployment of small modular reactors. Up to £56m is available
to support the development of advanced modular reactors, including up to £44m for
a Feasibility and Development Project and £12m for the Office of Nuclear Regulation
and Environment Agency to build the necessary capability.</p><p> </p><p>The government
provides extensive support for renewable energy, with around £10bn of annual of low
carbon levies supporting the sector and up to £557 million (2011/12 prices) of further
support available, starting with the next Contract for Difference allocation round,
which will open by May 2019. These auctions are expected to secure 1-2GW of low carbon
generation each year in the 2020s.</p><p> </p><p>The government has implemented a
number of measures to support the oil and gas sector, including £2.3bn of fiscal changes
since 2015, £45m to support exploration, and the introduction of Transferable Tax
History to aid investment in late-life assets. As outlined in the Industrial Strategy
White Paper, no new government funding is available for sector deals. However, we
welcome the way industry has come together under the leadership of Trevor Garlick
to enable elements of the proposed sector deal to take shape. The government will
continue its close engagement with the sector to consider what we can best do together
to strengthen our partnership.</p>
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