UK government to pay £1.3bn to help fund Universal Studios theme park in Bedfordshire

Rachel Reeves (in pink) with Mark Woodbury (left), chair and CEO of Universal Destinations & Experiences, visit the site of the Universal theme park in Bedford. Photograph: Chris Radburn/PA

British taxpayers will provide £1.3bn in funding to help the Hollywood studio giant Universal build its first theme park in Europe.

Comcast, the US media company that owns NBC Universal and Sky, had been considering a number of countries in which to build its first European theme park.