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U.K. Drafts Plan to Save Strategically Important Firms: FT

  • Government could rescue firms with outsized effect on economy
  • Treasury would not initially look to take equity stakes
Rishi Sunak

Rishi Sunak

Photographer: Tolga Akmen/AFP via Getty Images

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Britain’s finance minister, Rishi Sunak, has authorized a plan to save strategically important companies in exceptional circumstances, the Financial Times reported, citing details shared with the newspaper by the Treasury.

Under the plan called Project Birch, the government would rescue any companies whose failure would “disproportionately harm the economy,” the Financial Times said. A Treasury official declined to comment on the report.