Winning the global green race: Lessons for the UK from the US' Inflation Reduction Act

Article

The UK is in urgent need of renewal. The country faces a series of challenges: stagnation and inequality, risks to national and energy security, and the climate and nature crises.

In response to similar threats faced in the United States, the Biden administration has passed the Inflation Reduction Act, and while the EU is contesting various measures on fair trade grounds, it’s also preparing to respond in kind via its proposed Green Deal Industrial Plan. The UK risks being squeezed by its two largest trading partners.

It’s not possible for the UK to just replicate the measures in the IRA, but there are lessons to learn if the UK is to respond effectively and reap the benefits of the green transition and accelerate its pathway to net zero. Failure to do so will see the UK not just falling behind in the global green race, but falling out of it altogether with disastrous consequences for its economy and the environmental agenda.

Related items

  1. A photo of a field of solar panels with a line of trees and a sunset sky behind it

    The Europe agenda: Energy and climate

    A redefined relationship with Europe is the most direct path to the UK's climate and energy goals.
  2. Sad young woman sitting on the window

    The loneliest generation: What it is like to grow up in England today

    Connection should be the fabric that binds society together. But today’s young people have never felt more disconnected. 
  3. Man Writing Code on Desktop Computer With Multiple Monitors Set Up and a Laptop in Creative Office

    Bottleneck Britain: How digital competition could power UK growth and sovereignty

    Artificial intelligence could be the UK’s biggest economic opportunity in a generation, but only if its gains are spread across the economy rather than pooled within a handful of companies.