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UK's Sunak authorises bailout to rescue strategically important companies

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British Finance Minister Rishi Sunak has authorised a bailout plan to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a 'last resort' basis after other options run out.

FILE PHOTO: Britain's Chancellor of the Exchequer Rishi Sunak attends a news conference on the ongoing situation with the coronavirus disease in London, Britain, March 17, 2020. Matt Dunham/Pool via REUTERS

The Treasury told Reuters late on Sunday it may try to save those companies whose failure will “disproportionately harm the economy”. “We are putting in place sensible contingency planning and any such support would be on terms that protect the taxpayer,” the statement added. The newspaper also reported that the state could buy stakes in crucial businesses that are facing acute financial problems.

 

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Aka Tory Party Donors.

Companies selected by size of contributions to the Tory party ! Tell us if a company that does not contribute to them gets into the list ? Haaaaaaaaaaaaaaaaaaaw ! I doubt it !

As long as: 1. their major shareholders/owners do not reside in a tax-free haven. 2. they appropriate levels of UK corporation tax

Sunak is doing a great job in my opinion! Without such support more and more companies will be in trouble which means more employees are at risk of losing their jobs.

Oh, the magic money tree is a Birch.

Hopefully I would be selected as one of “strategically important” housewives with some other equally “strategically important” full-time moms and receive some free money.

aka fascism privileging flavored corporate autocrats.

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UK's Sunak authorises bailout plan to rescue strategically important companies: FTBritish Finance Minister Rishi Sunak has authorised a bailout plan to rescue companies that are seen as strategically important, with the state expected to buy stakes in crucial businesses that are facing acute financial problems, the Financial Times newspaper reported https://on.ft.com/3eeNJSN. Let me guess: Serco, Capita, Group4 Deloitte, Interserve, Virgin etc Telling you that boys a hybrid human/crow All his pals of course.
Source: Reuters - 🏆 2. / 97 Read more »