Advertisement

  1. ITV Report

Pressure mounting on UK government to make decision on Swansea tidal lagoon

A group of local AM's are meeting with the Secretary of State for Business, Energy and Industrial Strategy to push for a decision. Credit: Swansea Bay Tidal Lagoon PLC

A major investor in the Swansea Bay tidal lagoon scheme says he may be put off funding future Welsh projects if the UK Government doesn't give the go-ahead to the lagoon.

In a first TV interview on the subject, David Stevens, founder and CEO of Welsh Insurance company Admiral, says he's been left baffled by the Government's delay in making a decision.

Mr Stevens, along with his wife, have placed millions of pounds of personal wealth into the project and says money from investors has now dried up.

Today a group of local AMs are meeting with the Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, in Westminster to push for a decision.

The UK Government says it is considering the recommendations of the Hendry Review and taking the time needed to determine what is in the best interests of UK energy consumers and taxpayers in the long term.