British finance minister Jeremy Hunt said the US Inflation Reduction Act that provides subsidies to green industries was a “very real competitive threat.” This comes amidst concerns in Europe that the subsidies would put companies based in the EU at a disadvantage.
Hunt spoke at a green energy conference in London on Tuesday, touching on the US legislation. Hunt said that the British government does not have the funds to provide similar subsidies for companies based in the UK following the financial backlash that led former Prime Minister Liz Truss to resign. However, Hunt said that the government plans to announce policies in the coming months to help shield companies in the UK, such as opening $6 trillion in pension funds to support the industry.
“This is not a time when it’s going to be easy for us to access the GDP equivalent of $369 billion,” said Hunt. “We have to remember that equation in the US is somewhat coming from behind because the previous president was not remotely interested in net zero.”
“So there is some catch-up element in what the US is doing, but it is a very real competitive threat,” Hunt added.
Hunt told reporters that the British government’s policies could be announced in the coming months when pressed on the date of the policy response.
Meanwhile, nurses in the country will put a pause to their planned strike action to engage in “intensive talks” with the government over pay and working conditions, both sides announced on Tuesday. The Royal College of Nursing and the government said that the first round of discussions would start on Wednesday when health minister Steve Barclay would meet the RCN’s representatives.
“Both sides are committed to finding a fair and reasonable settlement that recognizes the vital role that nurses and nursing play in the National Health Service and the wider economic pressures facing the United Kingdom,” said the statement.
The government said it was inviting teaching unions to “move into formal talks on pay, conditions, and reform” on the condition that the upcoming strikes would be cancelled. The agreement to hold talks with the nurses union meant that the strike planned for March 1 would be cancelled.


U.S. Accuses Cuba of Harassing Top Diplomat Amid Rising Tensions
Russia Warns Foreign Troop Deployment in Ukraine Would Be Treated as Legitimate Military Targets
Medvedev Warns World Is Growing More Dangerous but Says Russia Seeks to Avoid Global Conflict
Peter Mandelson Resigns from Labour Party Amid Renewed Jeffrey Epstein Links
Israel Reopens Rafah Crossing, Offering Limited Relief to Gaza Patients Amid Ceasefire Efforts
Russian Missile and Drone Attacks Hit Kyiv and Other Ukrainian Cities, Causing Widespread Damage
Federal Judge Blocks Trump Administration Move to End TPS for Haitian Immigrants
Trump Says Fed Pick Kevin Warsh Could Win Democratic Support in Senate Confirmation
Democrats Score Surprise Texas State Senate Win, Fueling Momentum Ahead of 2026 Midterms
Russian Drone Strike Kills Miners as Ukraine Pushes for Peace Talks Amid Energy Crisis
Christian Menefee Wins Texas Special Election, Narrowing GOP House Majority
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns
Trump Calls for “Nationalizing” Voting, Drawing Backlash Over Election Authority
UN Peacekeepers to Deploy Ceasefire Monitoring Team to Eastern Congo After Doha Talks
Cuba and U.S. Resume Limited Diplomatic Communications Amid Rising Tensions
Trump Spoke With FBI Agents After Georgia Election Office Search, Report Says 



