Talks@Bruegel: IRA and the European response with Anton Hofreiter

The United States' Inflation Reduction Act showcases the mobilisation of private investment by offering tax relief for profits within a defined timeframe. While it exemplifies speed and simplicity, it also faces valid criticism for its protectionist tendencies. 

On 16 March Europe responded with the Net Zero Industry Act, a move by the European Commission to demonstrate the scalability of climate-neutral key technologies within Europe and the global market. Alongside the European Critical Raw Materials Act and the Hydrogen Strategy, the Net Zero Industry Act aims to establish a clear European framework that reduces the EU's dependence on highly concentrated imports. However, the question remains: does the Act truly deliver the anticipated breakthrough in simplification? Anton Hofreiter, - Member of the German Bundestag, joins us to discuss its provisions and assess its potential impact.