Brexit Claims Its First Victim: Hitachi Scraps Nuclear Plans

With Brexit now just 70 days away, it seems the first victim of Brexit is Hitachi or rather the British people. The company which was planning to develop a £16 billion nuclear power plant has pulled out of the project, sighting insufficient funding for the project. Along with this cancellation, will be the loss of thousands of jobs which would have become available to the local population and the UK as a whole.

The UK has 15 power plants which provide 21% of the electricity in the UK. With Hitachi leaving the planned power plant, the UK’s future nuclear plant strategy is bound to be affected. In terms of how much it is to be affected is still too early to say.

After the recent UK government defeat on the Brexit deal, the largest defeats in decades. Now with the cancellation of a nuclear power plant, there is no guarantee that the nuclear project development can be continued. However, in terms of the feasibility of the continuation of the project, it would depend on the ability of another company to fill in and fund the nuclear project. Also if Brexit will claim any more victims, along the way with only 70 days to go and counting.

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