UK's Sunak authorises bailout to rescue strategically important companies
Under the plan, which is named "Project Birch", the finance minister has raised the UK Treasury's capacity to handle bespoke bailouts of "viable" companies which have exhausted all options
Rishi Sunak | UK economy
Last Updated at May 25, 2020 19:59 IST
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.
The Treasury said it may try to save those companies whose failure will "disproportionately harm the economy", the Reuters reported. "In exceptional circumstances, where a viable company has exhausted all options and its failure would disproportionately harm the economy, we may consider support on a 'last ...
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First Published: Mon, May 25 2020. 17:13 IST