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Chancellor-US IRA Is 'Very Real Competitive Threat'

UK

Speaking at a Treasury event in London, Chancellor of the Exchequer Jeremy Hunt states that the US Inflation Reduction Act (IRA) is a "very real competitive threat, and we have to be alive to it." Adds that it will be hard to for the UK to come up with the same GDP resource for green tech industry support as the US.

  • Michael Holder at Business Green: "[Energy and Net Zero Secretary] Grant Shapps adds that USA does not have same political consensus as UK on net zero, and that USA is also behind on climate and net zero compared to UK. But says he knows US looking to take some of the "rougher edges" off IRA amid global trade partner concerns."
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