Swift, firm aid promised

Financial support: London’s financial district near the River Thames. Companies are set to gain as the government announces subsidies post-Brexit. — Reuters

LONDON: The UK government announced its post-Brexit system for overseeing subsidies to companies, promising to make quicker decisions than when Britain was in the European Union (EU).

Subsidies will be permitted if they follow certain principles like benefiting local communities and being good value for taxpayers, the UK’s Department for Business, Energy and Industrial Strategy (BEIS) said in a statement yesterday.