Sunak urged to rejoin £84bn EU scheme as 70% firms plot UK exodus in blow to ‘superpower’

Speaking to Express.co.uk, Mark Smith, Partner RD Incentives and Grants at Ayming UK, a consultancy specialising in innovation funding, warned that recent ambitious government subsidies in the EU and the US were playing a role in accelerating this exodus.

Last August, the US passed President Joe Biden‘s Inflation Reduction Act, which provided massive boosts to companies looking to develop renewable energy and build electric vehicles in the country.

With such tantalising tax incentives offered by the US, experts have warned that companies in Europe have begun moving their production across the continent.

In response, the EU launched the Green Deal Industrial Plan, with the goal of slashing red tape, speeding up access to finance, and fast track new clean energy production projects.

Article source: https://www.express.co.uk/news/science/1738633/rishi-sunak-brexit-horizon-europe-84-billion-eu-science-superpower-exodus-ayming