<p>Britain said it wanted to help businesses to access state aid with a new and more flexible subsidy system, and that leaving the European Union would allow it to support domestic priorities like building green industry.</p>.<p>The new system, which has previously been outlined by ministers, will be set out in legislation for the first time later on Wednesday.</p>.<p>"When people ask 'what are the benefits of Brexit?' - this is it," business minister Kwasi Kwarteng said on Twitter.</p>.<p>He criticised the EU system, which previously applied to Britain until it completed its exit from the bloc at the end of 2020, as overly bureaucratic and slow.</p>.<p>"The UK’s new, flexible system will empower public authorities to deliver subsidies to viable businesses in a timely and effective way," Kwarteng said.</p>.<p>First outlined in February, the system will be based on the principle that subsidies are permitted if they deliver value for the British taxpayer.</p>.<p>State aid would not be used to prop up ailing or insolvent firms indefinitely, or to allow one region of Britain to undercut another, the business department said.</p>.<p>Britain has criticised states such as China for heavily subsidising state-owned enterprises that distort international trade. However, the government argues that its new plan will let it foster growth industries, small businesses and research and development.</p>
<p>Britain said it wanted to help businesses to access state aid with a new and more flexible subsidy system, and that leaving the European Union would allow it to support domestic priorities like building green industry.</p>.<p>The new system, which has previously been outlined by ministers, will be set out in legislation for the first time later on Wednesday.</p>.<p>"When people ask 'what are the benefits of Brexit?' - this is it," business minister Kwasi Kwarteng said on Twitter.</p>.<p>He criticised the EU system, which previously applied to Britain until it completed its exit from the bloc at the end of 2020, as overly bureaucratic and slow.</p>.<p>"The UK’s new, flexible system will empower public authorities to deliver subsidies to viable businesses in a timely and effective way," Kwarteng said.</p>.<p>First outlined in February, the system will be based on the principle that subsidies are permitted if they deliver value for the British taxpayer.</p>.<p>State aid would not be used to prop up ailing or insolvent firms indefinitely, or to allow one region of Britain to undercut another, the business department said.</p>.<p>Britain has criticised states such as China for heavily subsidising state-owned enterprises that distort international trade. However, the government argues that its new plan will let it foster growth industries, small businesses and research and development.</p>