has resigned after 6 weeks and office current hausman comes off to a bruising week of you turns on economic and energy policy and a backlash from her own conservative party. a successor will be chosen in a party leadership election set for next week. you're watching d. w. news live from berlin, stick around the japanese business is coming up next with my colleague, kate ferguson. i'm either you can also find much more on our website these up the dot com. i'm a hand mohammed. thanks for watching. take care. bye. ah . dan again old. the harvesters are immigrants, goal, if you say everything you enjoy, eating at home with your family, was harvested by people who are being exploited. it's like this for free, and we're going to need durham, can we keep doing what we're doing?

and that's why your green revolution is absolutely necessary. europe revealed the future is being determined. now. our documentary series will show you how people, companies and countries are rethinking everything, until i can make changes to europe revealed. starts november 3rd on d, w. ah, was market reaction responsible for the quickest epr demise of a british prime minister? we'll take a look at the policies that prompted the financial turmoil which eventually forced to live trust to resign. all the coming up $3000000000.00 to boost electric

mobility. the united states is betting big on electric battery production. meanwhile, europe is on a similar road. it's focusing on how best to 4th critical materials like lithium. this is dw business. i'm kate ferguson. thanks for joining me. to the markets, bring down a british prime minister. that's the question being posed after live trust resigned, just weeks after taking office. investors had previously firmly rejected her economic plan, one of which she said was based on a boosting growth, but which money experts thought would lead you k finances in dis array. her departure comes as the u. k. baffled soaring inflation and an energy crisis. for more, i'm joined by hillary angle professor of economics off lancaster university hillary news of trust his resignation. immediately some of the pond of a pretty damning response to her short lived leadership. given how tumultuous

british politics is the present, how long do you expect this feeling of relief to laughed? well, i think it in, i very much depends on what happens next that you sent in either the pound appreciated chad. prices went up, borrowing cost of $30.00, a guilt went down. but the calls that the problems that are on the line, the conservative party, hadn't gone away. that not the united policy. and i think, you know, one racing, my people were hoping that maybe liz costs could have hung on a bit longer was to try and find some sort of compromise. can do that because you very much got this little list, come with the european research group, and then then you've got the, the other people. so it's difficult to identify a preferred candida, because at the minute, if they go into a general election and there is talk that whoever succeeds they will have to go to the electric quite soon. they are looking at a massive debate and could be facing years in a position and many of the, you know,

big based in the policy could lisa sites for there. just an incredible number of unknowns here. but the writing did seem to be on the wall a through an as trust, a nice that many budget last month, reminders of what he was proposing and why investors were so spooked what she was proposing was a big money give away. so, you know, she'd already announce the sort of help with fuel. then she wanted to reduce income tax. then she was going to abolish the very highest rated tax that was stamp duty concessions. but i think waltz the, the markets was that there was no indication of how this might be paid full. now trust always rejected the treasury orthodoxy, which basically says that if you're going to make spending plans, there's got to be something in place as to how these might be funded. articles. don't forget, normally when such things are announced that a budget time we get the independent view of the office, the budget responsibility,

and we never got that. i'm the only leaped out later that they were talking of figures in i 72000000000 pounds. so why was it going to come from? so i think what went wrong is she was very ambitious with what she was giving away with absolutely no idea as to how the company might pay for it. so we have no idea yet who is going to succeed her, but what does that person have to do to regain the trust of the markets? well 1st of all, i think they have to regain the trust of the party because the policies very much divided and it would probably be a simplification to say it was dividing to. there are lots of different factions. so i think they need to bring the policy together and that might in a sense inject some stupidity because markets that like uncertainty and instability and that is bolt the u. k. government is characterized by now. so i think,

you know, they need to calm down by that they, they need to unite behind the leader. they're not going out to the conservative party members. again, the certainly common full to go through a great long, protracted process like that. so in just over a week we will help a new leader. so i think things need to calm down, you know, i, i don't think whoever takes over is going to make such a rush policy pronouncements as mistrusted, you know, without any idea of how these things are going to be funded. i mean, you know, when, as talk of a recession, when interest rates are going up, it makes no sense to have a chance to le, standing up and say, okay, well, i'm going to pump more money into the economy most at the same time, we're trying to rain back spending via increasing interest rates, which are going to keep increasing. and i mean, the governor, the bank of england has said the increase might be greater. so i think we need to see some sort of cohesive policy. i want the chancellor is going to be proposing working in tandem with what the bank is trying to do to re back inflation. not

trying to work against each other. and i think that's what jeremy hunt tried to do with the statements he made last weekend when he was appointed. his counselor, hillary ang, and professor of economics. i blank, athena birthday. thank you very much. my kid tonight, us president joe biden is to spend almost $3000000000.00 to boost the production of batteries for electric vehicles. the funds will come in the form of grounds and will be awarded across 12 different states. projects focused on extracting and processing, lithium graphite, and other battery materials will be given priority. the plan is part of a broader strategy to slow down climate change and promoter green industry. home clarify permits or some say a challenge, but we see an opportunity, a real opportunity to shift through a net 0 sum carbon world in one of the most significant economic transitions

since industrial revolution mass not i personally, that's a fact. we're also confronted head on when american ingenuity and american jobs for let's go to detail this financial correspondence, teddy austro in new york. teddy, good to see. let's get into the details here. who is going to get these grant? well this $2800000000.00 in grants will be dispersed to 20 companies that includes albemarle piedmont, entech, but perhaps what's most interesting is where they will be dispersed and that's across 12 states, largely republican, held to alabama, kentucky, louisiana. and these are states that voted for donald trump in 2020 their politicians voted against the inflation reduction act that biden's largely climate focus legislation passed earlier this year. that gave a ton of money to the e v market. now they're certainly welcome in the welcoming these grants,

accepting the jobs that they likely will create. this irony was certainly not lost by biden and his speech about the grants. okay, so this is a really significant investment, but how much would you say this will help the united states to really establish itself in the electric vehicles market? i would say it's, it's one significant step forward. now biden has been pretty explicit that this is a challenge to china and chinese companies control over the, the battery market. china and chinese companies control about half of the materials production that go into e, the batteries. now the united states controls less than one percent of lithium production. that said, this will be pretty significant. it will click very well with the inflation reduction act which will give tax breaks to evie manufacturers, but on a stipulation that much of the materials that will go into those evie batteries and

those e b 's have to come from the united states. so that's what these grants will do, and it is a significant step forward that said the united states has a lot more to do to catch up today after a new york. thank you very much. and the united states, of course, isn't alone in moving forward with the green transition here in germany. efforts to boost electric mobility are also firmly underway. newly discovered lithium deposits could provide a major boost to the cause by reducing the reliance on foreign supplies. lou here, the so called white gold of the green energy transition lies dormant. large amounts of lithium are needed for batteries to power e cars. but lithium can be found in the hot thermal water of the upper ryan river, 4000 meters under ground. the german branch of australia's vulcan energy

resources wants to extract the lithium from the thermal waters in an environmentally friendly way. in a lab in karlsruhe, the team has developed a process to hopefully extract the lithium on an industrial scale in us in so far as in the 1st 2 faces, we could supply up to 40000 tons of lithium hydroxide for about 1000000 mobility batteries. after that, we can keep expanding this. we believe we can meet 25 percent of european demand in the long term and supply all german production with it. in order to transport these mineral rich thermal waters up from the depths, the company relies on geothermal energy. 160 degree hot water is pumped up via bore holes and used to generate electricity to power the extraction. it's climate neutral, but there's a catch in the past. geothermal drilling has repeatedly caused earthquakes.

ah, numerous buildings were damaged in the process. with many of those affected left to pay for their own repairs. as it is hotter, the assessor estimated the damage is 825000 euros. oh okay. so you'll be reimbursed . you know, the insurance company only wants to pay 2500 euros. uh huh. so that i can have the crack seal too many cities, alaska. in a worst case scenario, drilling could police the ground water. some lithium extraction projects in the region have already been halted for many experts. however, this is going a step too far. they say with modern technology, thermal water can be found in the deep rock, where tapping comes with no risk. high precision geo sensors could also help ensure that drilling has stopped before it causes damage. the letters back to the

200, all this data mining authority is very careful and strict to govern you. of course, no one can guarantee that no further earthquakes will be triggered. but we're sure that we can put enough measures in place to prevent that from come to flame. lithium mining with geothermal energy could be a big opportunity for the energy transition. but vulcan energy has its work cut out, tried to convince residents in the region that the extraction is safe. i for, i think, take a ah, ah, ah, is the end of the pandemic in sight? we show what it could look like. will return to normal. and we visit those who are finding it difficult

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