Business /

Need to mitigate against risks from US subsidies: UK’s Hunt

This is $369 billion of subsidy and there are risks as a result of that,” he said

Last updated: March 29, 2023 | 13:51

Reuters

1 MIN READ

Add as a preferred source on Google

"We won't do anything to compromise financial stability," he said.

AFP

London: British finance minister Jeremy Hunt said on Wednesday the UK needed to make sure it remained an attractive place to invest in the context of the subsidies available in the US from its Inflation Reduction Act.

“This is $369 billion of subsidy and there are risks as a result of that and we need to mitigate against those risks. That doesn’t necessarily mean matching subsidy for subsidy but it means making sure the overall package which means people choose to invest in the UK remains attractive,” Hunt told parliament’s Treasury Committee.

More to follow...