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Politics

UK Unveils Green Program With Little New Cash to Fight US Plans

  • Britain aims to cut CO2, boost security with low-carbon energy
  • Jeremy Hunt says won’t go toe-to-toe in subsidy race
Inside the Unit 1 nuclear reactor at Hinkley Point C nuclear power station.

Inside the Unit 1 nuclear reactor at Hinkley Point C nuclear power station.

Photographer: Hollie Adams/Bloomberg

The UK unveiled its strategy to speed up the deployment of renewable power and capture carbon, but the plan to boost energy investment in Britain lacks the financial might of efforts in the US.

Billed as a response to the limitless green subsidies in US President Joe Biden’s Inflation Reduction Act, the measures were low on fresh funding, with any meaningful expenditure expected in the autumn. Briefing reporters, Energy Secretary Grant Shapps appeared to concede there was little in the way of new spending.