Seven EU countries oppose new EU funding as response to US green subsidy plan via IrishTimesBiz
It warns that subsidies endanger the “level playing field” of the single market by leading to harmful subsidy competitions between individual member states, as well as being detrimental to public finances.
The largesse of the IRA bill passed by the administration of president Joe Biden has alarmed EU member states, who are concerned that combined with higher European energy prices it will make their industry uncompetitive and lure away investment to the US.The director of Technology Ireland, Una Fitzpatrick gives the industry view on the recent job losses.
As a response there have been some calls for a pan-European fund to support green industry, perhaps funded by more joint EU borrowing, as a way to avoid different member states becoming out of sync. “Any additional measures should be based on a thorough analysis by the commission of the remaining financing gap, and no new funding should be introduced,” the letter reads.
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