City calls for state-owned recovery corporation to handle £35bn of unsustainable government-backed debt
The Treasury is reviewing a “radical” proposal for a new state-owned body that would manageA City taskforce, the Recapitalisation Group, led by EY and the lobby group TheCityUK, is recommending that a government-owned UK Recovery Corporation be established to handle a growing pile of unsustainable government-backed debt that could otherwise wipe out thousands of businesses and lead to 3 million job losses.
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