With an obvious reference to Kraft, whose Brazilian billionaire backers at 3G have usually funded their takeovers with huge borrowings, he says: “To buy a company by overleveraging it, and having the taxpayer pay for it in deductions on income tax, doesn’t strike me as in the best interest of a country.”
The recipients of the interest do pay tax on it you know….
And the Treasury seem to agree.
“This measure introduces a restriction on the amount of interest and other financing amounts that a company may deduct in computing its profits for Corporation Tax purposes.”
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/586221/Corporate_interest_restriction.pdf