Jeremy Hunt has promised to wipe tuition fee debt for young entrepreneurs who launch their own business after leaving university.

As part of his pledge to “turbocharge” the British economy after Brexit, the Tory leadership hopeful said he will waive loan repayments for any graduate who launches a start-up employing more than 10 people for five years.

The Foreign Secretary, who made his fortune as an entrepreneur before entering into the world of politics, hopes the proposal will incentivise more young people to follow in his footsteps.

Just one percent of graduates start their own businesses at present - a figure Mr Hunt says must rapidly increase if the country is to prosper after Brexit.

The announcement is Mr Hunt’s latest attempt to position himself as the pro-business candidate, having already promised to slash corporation tax and exempt thousands of small companies from business rates.

He has also proposed cutting the interest applied to all student loans, having warned against the apparent unfairness of current rates, which stand at 6.3 percent.