Skip to main content

The US makes no apologies.

The U.S. "makes no apologies" for prioritizing American jobs as it seeks to take a leading role in the

New York
global race for green energy, a White House official responsible for a $369 billion push to fund the effort said. In an interview with Financial Times, Joe Bidens top clean energy advisor, John Podesta, dismissed criticisms that the Americas Inflation Reduction Act will distract from investments and harm the economy of Europe.

He said allies critical of the IRA should "welcome U.S. leadership". Podesta said: "We do not apologize that American taxpayer dollars should go into American investments and jobs. Podesta called for Europe to shoulder responsibility for developing its green energy sector. "We want to see a European industrial base succeed, but some of that job has to be done in Europe, he added. "We are going to do only some of that for them.

Since the last year IRA passed, more than $90 billion of green investments has flowed to the U.S., including $369 billion worth of tax credits, grants, and loans to increase renewables and cut emissions. But EU policymakers worry the size of the subsidies may undercut the blocs' efforts to attract green investments, and French President Emmanuel Macron has warned the IRA may "fragment the West". 

www.sba.tax

Labels:

Comments

  1. Harry26 February 2023 at 12:08

    It's time the EU stopped complaining and started creating ways to attract companies to want to invest in the EU space. It's normal the US would try to push for green energy and do everything it can to speed it along. The EU needs to do the same.

    ReplyDelete
    Replies
    1. Paul26 February 2023 at 13:04

      The EU needs to put money where their mouth is and stop blaming the US. At the end of the day every country/region wants to attract as many companies in their area as possible.

      Delete
  2. Gracie26 February 2023 at 16:07

    Podesta is right. The US can't be expected to not invest in growing American investments and jobs. This is and should be their main priority.

    ReplyDelete
    Replies
    1. Quentin26 February 2023 at 16:36

      As it should! Of course a country, any country must first take care of their own people and then see how they can help others. If the country is not strong then they won’t be able to help anyone else.

      Delete

Post a Comment

Cloud Bookkeeping

H&M struggles with profitability.

  H&M blamed high clothes prices ,  its exit from Rus­sia and a cost-cut­ting pro­gramme for an unex­pec­tedly large col­lapse in its earn­ings as the world’s second-largest fash­ion retailer’s struggles with prof­it­ab­il­ity con­tinue .  Oper­at­ing profit plunged 87 per cent to SKr820mn in the fourth quarter to the end of Novem­ber from a year earlier .  Shares in H&M fell more than 4 per cent to SKr125 . 80 yes­ter­day ,  hav­ing lost nearly half of their value since their recent peak in April 2021 .  The Swedish retailer ,  which lags behind Indi­tex ,  the Span­ish owner of Zara ,  in sales and prof­it­ab­il­ity ,  launched a SKr2bn cost-cut­ting pro­gramme last year that included 1 , 500 job losses . H&M’s sales in the fourth quarter were up 10 per cent to SKr64 . 4bn but flat in local cur­rency terms .  It said sales from Decem­ber 1 to Janu­ary 25 had increased 5 per cent in local cur­ren­cies .  «Sales in ...
2 comments
Read more

Commercial properties continue to fall

  UK commercial property values and rents are projected to «tumble off a cliff edge» in the first quarter of 2023, as estate agents warn offices will fare worst as prices fall. A survey of more than 400 commercial agents forecast a 2.9 per cent decrease in prices per square foot across the industry in the first three months of the year, with offices falling 3.1 per cent. «Where we saw the market stop still, we will see the market finding its level, people working out where things are, where value is,» he said. Listed vehicles have already seen this valuation drop in their share prices, with real estates investment trusts such as Land Securities and British Land falling by a fifth or more this year. According to the RIB estate report, offices are expected to suffer the most significant sales price falls, with nearly a third of respondents expecting them to come down by more than 5 per cent. In addition, the survey projected a 1.3 per cent fall in rents per square foot over the perio...
Post a Comment
Read more

BoE is considering to increase deposit guarantee.

  According to anonymous sources, the Bank of England is considering reforming its deposit guarantee scheme. The move comes in response to concerns that the current system may not be sufficient to protect customers in case of a bank failure. The Financial Services Compensation Scheme guarantees deposits up to £85,000 per person per institution. However, some experts have raised concerns that this may not be enough to prevent a run on banks in a significant financial crisis. As a result, the Bank of England is reportedly considering several options for reforming the scheme, including increasing protection and introducing more stringent bank regulations. A final decision on any changes will be made later this year. One option the Bank of England considers is increasing the protection offered by the deposit guarantee scheme. This could involve raising the maximum amount guaranteed per person or extending coverage to more types of deposits. Another possibility is to introduce more stri...
Post a Comment
Read more