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World Business Report: First broadcast 09/03/2023 22:32 GMT : EU will allow members to match US green energy subsidies

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EU will allow members to match US green energy subsidies

First broadcast 09/03/2023 22:32 GMT 

First broadcast 09/03/2023 22:32 GMT : EU will allow members to match US green energy subsidies

BBC World Service - World Business Report, EU will allow members to match US green energy subsidies

The European Commission loosens rules to prevent an exodus of businesses

The US Inflation Reduction Act, a $369 billion programme of green subsidies, has led the European Commission to loosen rules to prevent an exodus of businesses.

The European Commission has replied to the US Inflation Reduction Act, a $369 billion programme of green subsidies, by loosening rules and allowing member states to offer companies as much government funding as they would get if they relocated to the US. We find out if this will help prevent an exodus of businesses working on green projects.
President Joe Biden has outlined his budget with plans that could form the backbone of a re-election bid. We take a look at his proposals.
And as the Georgian government takes a step back in its plans to push ahead a controversial legislation on foreign agents, we explore how the economy is doing.
(Picture: Volkswagen factory producing the ID.3 electric car in Dresden, Germany. Picture credit: Reuters)

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