UK: Boris Johnson promises new state aid rules after Brexit

British prime minister Boris Johnson has promised to introduce new rules governing state aid to ailing companies after Brexit and to offer preferential treatment to British firms in public procurement. Speaking at an event in London with two other leaders of the 2016 Vote Leave campaign, Michael Gove and former Labour MP Gisela Stuart, the prime minister said he wanted to make it faster and easier for the government to intervene when businesses are in trouble.

“We’ll back British industry, by making sure we can intervene when great British businesses are struggling,” he said, reported The Financial Times. 

EU chief Brexit negotiator Michel Barnier has made clear that the “zero tariff, zero quota” trade deal Mr Johnson wants with the EU must also involve “zero dumping”. This means that Britain should agree to a “level playing field” to match EU social and environmental standards and state aid rules.

The prime minister said the new measures, which would comply with basic World Trade Organisation standards, would be consistent with level playing field conditions with the EU.

Full Content: Financial Times

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