The US promotes the green transformation more pragmatically than the EU.
(Photo: AFP)
Brussels The American subsidy program for green technologies has alarmed Europeans. The 27 EU heads of government are meeting this Thursday for a special summit to discuss a European response to the “Inflation Reduction Act” (IRA).
In a draft of the summit declaration, which is available to the Handelsblatt, the EU Commission is asked to relax the state aid rules for the member states. The draft states that the processes must become simpler and more predictable so that “targeted, temporary and appropriate” support can flow quickly into the strategically important sectors for the green conversion of the economy. Tax discounts are explicitly mentioned.
Existing EU funds should therefore be used more flexibly. “Options” are also to be examined as to how Member States’ access to financing can be made easier. Private and public funds are needed to close the local investment gaps.
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