Jeremy hunt
Young graduates will have their student debt wiped out if they start a business under a new vow by wannabe PM Jeremy Hunt.

The Foreign Secretary - and former entrepreneur - vowed to "turbocharge" the economy by encouraging tens of thousands more Brits to start out on their own.

Under the plans, graduates would have their debts "waived" if they start a company and hire more than ten people for a period of at least five years.

Mr Hunt said it defied belief that only one per cent of graduates go into business.

The move could cost the Treasury a small fortune given average three-year degree carries a ยฃ50,000 price tag.

But Mr Hunt said: "If we are to turbocharge our economy and take advantage of Brexit, we need to back the young entrepreneurs who take risks and create jobs."



The pledge came after a difficult day for the Tory contender in which:
  • The Foreign Secretary lost his temper with Radio 2's Jeremy Vine after the big earning presenter taunted him for being loaded. The Foreign Secretary - who has an estimated ยฃ15m fortune - snapped and accused the BBC star of hypocrisy.
  • The Institute of Fiscal Studies separately said his pledge to increase defence spending and cut corporation tax could cost ยฃ25 billion and "amplify the challenges" facing the Treasury.
  • Jeremy Hunt was forced to deny calling Brexit voters "Little Englanders"in a Twitter Q&A on Tuesday night.
But in a big boost for the outsider, Scottish Conservative Leader Ruth Davidson threw her weight behind Mr Hunt's bid for No10.

Ms Davidson, who previously backed Sajid Javid and then Michael Gove in the leadership race, said: "Any Conservative Leadership candidate must put the Union first. Jeremy has done so and will get my vote."

Attempting to hit back at Boris on Wednesday night, Mr Hunt called on broadcasters to shame his rival by "empty-chairing" him next week in any planned head-to-head debates. Sky was this week forced to cancel a showdown after Mr Johnson refused to attend.

Mr Hunt claims the front runner is trying to "run down the clock" so Tory members with postal votes will have already cast their decisions by the time an ITV debate he has agreed to takes place - on July 9.

In an open letter to broadcasters, Mr Hunt said: "I fear that Boris Johnson's plan is to run down the clock so that by the time any debate happens, the votes are already being counted.

"I urge all broadcasters to press ahead with plans to hold live television events to scrutinise the candidates next week BEFORE ballot papers arrive, with or without Boris Johnson."