The European Commission today set out plans to boost competitiveness in the bloc's "green industry", in the face of the US' Inflation Reduction Act (IRA), aiming to speed up decarbonisation while avoiding a "subsidy race" between member states. As well as the Green Deal Industrial Plan, the commission is consulting EU member states on a proposal for temporary changes to state aid rules — "to respond to the double challenges of the energy crisis and the Inflation Reduction Act of the US", commission executive vice-president Margrethe Vestager said today. The US' IRA, signed into law in August, provides large tax ... (full story)