Like many governments in Europe, Paris is concerned that its industrial sector could fall behind on green technologies due to generous tax subsidies offered in the United States under the Biden administration's $430 billion Inflation Reduction Act.
Le Maire has tasked several lawmakers and business leaders to come up with ideas to boost green industry investment in France, aimed at presenting a new law in June. "To have a green industrial sector, it's got to be financed, so we need new financing, either public or private," Le Maire told journalists.
Financing measures could include tax credits and changes to asset depreciation rules that would make it more attractive for companies to invest in green technologies, he said.
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