Conservative MPs are pressuring the UK government to incentivize green energy growth.The environment audit committee chairman told City A.M.: “Other countries are offering impressive incentives for investment.”
Meanwhile, Alexander Stafford, Rother Valley Tory MP and BEIS Select Committee member, said the UK could not become complacent about its leading role in renewable projects. Aldous argued Biden’s legislation had “accelerated the global race to net zero” and posed a “challenge” to UK competitiveness. The shadow business and industrial strategy secretary said: “It beggars belief that Britain has the lowest business investment in the G7. At a time when we should be attracting investment, sadly too many firms are choosing to go elsewhere because the government is failing to offer the stability business needs to thrive.
He said: “We are not hanging around on this. We need to give all those guys you saw at the conference a clear sense of how we are going to respond to the Inflation Reduction Act.”