The Inflation Reduction Act Is a Catch-Up to What the EU Has Already Been Working On

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The Inflation Reduction Act is a way of luring European companies over, says Sam Fleming. The member states' responses will really become clear in the next few days as they have more time to digest what the Commission is proposing. France is among the most vocal in wanting an aggressive loosening of state-aid rules. It wants the most liberty to offer subsidies to green tech companies and the green transition.

Hundreds of thousands of UK public sector workers set to walk out on Wednesday in co-ordinated action, the EU is set to unveil a draft plan today that loosens the rules around clean energy subsidies. Plus, the FT’s US markets editor Jennifer Hughes looked at how meme-stock companies are performing after raising capital during the pandemic meme stock frenzy.

Mentioned in this podcast:

EU plans to relax curbs on tax credits in response to ‘toxic’ US subsidies

Meme-stock groups have raised $5bn in 2 years since trading frenzy

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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