UK introduces new law on state allowances

R.UNIDO BREXIT

LONDON, June 30 (EFE) — The British government will introduce a new bill aimed at giving the central executive and local authorities more freedom when providing state subsidies to companies, as part of post-Brexit measures.

As reported by the government on Wednesday, the so-called Subsidy Control Bill, which will be introduced in parliament today, will replace European Union (EU) rules on state aid that were in place before the country left the EU. block on 1st January

The executive promised that the United Kingdom, post-Brexit, new rules on state subsidies for businesses, would be one of the points of contention during talks between London and Brussels to reach a withdrawal agreement.

According to the executive, the new regime, as long as it passes parliamentary process, will allow specific and specific assistance to companies without bureaucratic delay.

Trade Minister Quasi Quarteng said the UK is “seizing the opportunities of being a free country to do business by supporting new and emerging British industries, creating more jobs and making the UK the best possible place to start and do business”. . Develop a business”.

“We want to use our newfound independence as a free and sovereign country to empower public authorities across the UK to provide financial support,” he said.

The EU is expected to study the bill’s contents in detail to establish whether the British government violates Brexit commitments to work on an equal footing to avoid excessive competition.