Chancellor Rishi Sunak on Wednesday poured cold water on the idea that the government should provide bailouts to companies that risk bankruptcy because of mounting debts accumulated during the coronavirus crisis.
Giving evidence to the House of Commons Treasury select committee, Mr Sunak said he was not comfortable with the prospect of helping companies with their debts.
Its not something I think governments should get into the business or habit of doing, he added. Its not my money, its taxpayers money.
Mr Sunak also warned he faced tough choices in the months ahead to put the public finances back on a sustainable footing, although he refused to be drawn on whether he would be announcing tax rises in the autumn Budget.
Amid mounting co…
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