David Chance: EU should ignore ‘siren calls’ for blanket green technology subsidies

Joe Biden's Inflation Reduction Act has put Europe on the back foot. Photo: Kent Nishimura/Los Angeles Times via Getty Images — © Los Angeles Times via Getty Imag

David Chance

If there’s one time you should judge a book by its cover, it is when companies queue up for government money. By this measure Joe Biden’s green subsidies in the Inflation Reduction Act have been a rip-roaring success as costs are set to rocket by $180bn to more than $570bn by 2031.