Boris Johnson promises to give state aid to UK companies to stop them collapsing after Brexit

• Boris Johnson announces the UK will scrap state aid rules to prevent businesses from collapsing after Brexit.
• The government is currently forbidden from intervening to prop up uncompetitive UK-based companies.
• The proposal comes as Johnson insists he will negotiate a new trade deal with the EU by the end of 2020, or leave without a deal.
• Failure to secure a deal would leave the UK trading on World Trade Organisation terms with its closest trading partners.
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Boris Johnson has promised to scrap EU state aid rules after Brexit in order to stop UK businesses from collapsing.

Under EU rules the government is forbidden from intervening to prop up uncompetitive UK-based companies.

However, revealing his “Brexit roadmap” on Friday, Johnson announced that he will change state aid rules to “make it faster and easier for the government to intervene to protect jobs when an industry is in trouble.”

Asked about the policy, Johnson told a press conference in central London: “When I look at what the rules have meant for UK companies… there are ways in which we will be able to do things differently.”

He added: “The ramifications of EU state aid rules are felt everywhere.”

The prime minister denied that the proposal would prevent the UK from signing a new trade deal with the EU.

However, he insisted that the policy would allow British business to “unleash their true potential.”

“If we are returned with a majority government we will leave the EU on 31 January and immediately get to work on unleashing the benefits of Brexit,” Johnson said.

“People voted to take back control – and we want to deliver that change. One of the crucial ways we will do that is by improving our rules so that we can back British businesses and unleash their true potential.”