Labour has accused the UK government of “complacency” over its muted response to Joe Biden’s attempt to turbo-charge the US economy with $369bn of green subsidies.
The US president’s landmark piece of legislation, known as the Inflation Reduction Act, has caused alarm among business leaders, with the CBI warning that the British economy was at risk in a global “subsidy arms race” for green growth as the EU prepares to respond.
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