International Trade Secretary Kemi Badenoch has criticised US President Joe Biden’s new green subsidies, calling them protectionist – that’s on the front of the Financial Times.
There are fears Joe Biden’s “protectionist” US package of green subsidies will hit UK-based makers of electric cars. The paper writes Ms Badenoch has written to her US counterpart to protest over the $369bn measure.
A bugbear is a subsidy for electric cars only including vehicles mostly made with parts from America or with batteries sourced from countries with a free trade agreement, excluding the EU and UK.
The FT leads with an image of the Nato leaders in The Hague. The leaders have pledged to meet Trump’s demand for more spending on defence.
The FT reports on Israeli Prime Minister Benjamin Netanyahu’s claim that Israel has gained control over Tehran’s airspace.
More than 240 die as Air India flight crashes in Gujarat following take-off The FT has a different take, looking at the pressure on Boeing. The paper calls it the worst aviation disaster in more than a decade. It is the first crash of that model of plane since it entered service in 2011 – it comes as Boeing is trying to “rebuild trust” following two previous crashes in 2018 and 2019. Read a full summary
The FT says the NHS, defence and education are the winners from the review but the Home Office, Foreign Office and Culture Department face a “squeeze”.
The chancellor will release £39bn for affordable housing, saying the money is “the biggest boost to social and affordable housing in a generation.”
LA protests: Governor set to sue Trump The FT reports on the LA protesters as California Governor Gavin Newsom says he will sue Donald Trump for sending in the National Guard to deal with the protests. The paper also reports that hedge funds are circling several French companies facing “painful restructurings” as they struggle with high levels of debt.
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