Climate Politics
UK Can Never Rival Biden’s Green Subsidies in Inflation Reduction Act, Minister Says
- Minister Ghani says UK must focus on own areas of expertise
- Sunak’s administration currently drawing up IRA response
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The UK will never be able to match US President Joe Biden’s enormous package of green subsidies enshrined in his Inflation Reduction Act, a government minister said, adding that Britain would instead focus on targeted support in areas of expertise.
“We’re never going to have pockets as deep as IRA,” business minister Nusrat Ghani said in a Bloomberg interview, referring to Biden’s $370 billion of incentives and tax credits for electric vehicles and clean-energy projects. “This is a remarkable, eye-watering sum of money.”