US subsidies make UK financial reform urgent, business warns

📆 2023/04/26 22:16:00
📰 ChannelNewsAsia

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 66%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

LONDON : U.S. clean technology subsidies are sucking capital from Europe, making it more urgent to improve London as a global financial centre, business bosses told UK lawmakers on Wednesday.The Inflation Reduction Act (IRA), which offers $369 billion of tax credits, research loans and grants for clean te

LONDON : U.S. clean technology subsidies are sucking capital from Europe, making it more urgent to improve London as a global financial centre, business bosses told UK lawmakers on Wednesday.

Pension funds in Britain, which have long preferred safer assets like government bonds to stocks, need consolidation to achieve scale for investing in start ups, Symonds said. "The effect of what's happening through the Inflation Reduction Act across the whole of Europe is like a dirty great hoover on full suction mode," said Jonathan Hill, who authored a government-backed report on reforming UK listing rules.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe businessSTOCKHOLM : Hygiene products group Essity said on Wednesday it has initiated a strategic review of its stake in China-based Vinda and its Consumer Tissue Private Label Europe business.The Swedish company said in a statement the aim of the review is to reduce its Consumer Tissue division's share of group
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »