Economics

Sunak Says Bar for U.K. Company Bailouts Exceptionally High

Chancellor warns of ‘tragic projections’ for unemployment
Sunak due to set out measures next month to revive economy

WATCH: Sunak says the use of taxpayer money to support companies amid the coronavirus pandemic “should be extremely rare.”Source: Bloomberg

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By Alex Morales, David Goodman, and Francine Lacqua

June 26, 2020 at 10:02 AM UTC

Updated on

June 26, 2020 at 1:12 PM UTC

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U.K. Chancellor of the Exchequer Rishi Sunak said he will set an “exceptionally high” bar for companies seeking taxpayer-funded bailouts during the coronavirus pandemic, days before the government sets out its plans to revive the country’s economy.