Prospect Deputy General Secretary Garry Graham said: "This welcome decision brings us a step closer to the construction of nuclear new build in the UK. This is good news for UK energy policy in terms of ensuring capacity, security of supply and a long-term move to carbon reduction.

"Today's announcement also helps pave the way for long-term investment which will support and sustain highly-skilled and good quality jobs at a local and national level over the short, medium and long term.

"In order for this to become a reality it is now critical that agreement is reached on the 'Contracts for Difference strike price' to enable a stable platform to be created which will support the long-term investment needed.

"Without it, we risk letting a once-in-a-generation opportunity to power the country over the coming decades and avoid any gap in supply. The Chancellor has an ideal opportunity to provide clarity and allow the investment so urgently needed."