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Britain will follow WTO subsidy rules after Brexit transition period - minister

LONDON, Sept 9 (Reuters) - Britain will follow World Trade Organisation (WTO) rules on subsidies after its exit from European Union rules is completed at the end of the year, business minister Alok Sharma said on Wednesday, promising not to adopt a “picking winners” approach.

“While our guiding philosophy remains that we do not want a return to the 1970s approach of picking winners and bailing out unsustainable companies with taxpayers’ money, the UK must have flexibility as an independent, sovereign nation to intervene to protect jobs and to support new and emerging industries,” Sharma said in a statement. (Reporting by William James; editing by Stephen Addison)

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