George Osborne wasn't the only one engaging in a spot of financial gymnastics this week, as both Premier Foods and Uniq revealed unusual plans to rid themselves of their respective debt headaches.

Uniq's solution, in particular, raised a few eyebrows. The chilled food manufacturer has devised a plot to tackle a £436m pension deficit by handing 90% of the shares in the company to the scheme itself.

This is significantly more than the 5% a pension scheme is allowed to invest in its sponsoring employer and, if approved by the pensions regulator, could prove a watershed moment in British company history.

Premier, meanwhile, has rearranged its crippling interest payments, which will see it pay out £167m over the next four years.

While the City welcomed the release of pressure in the short-term, many experts believe the shuffle will not address the company's debt ­issues fully, calling for Premier to make further divestments. Unfortunately for Premier, the only asset it has that could clean its balance sheet in one go would be Hovis.

And if that isn't throwing the baby out with the bath water I don't know what is.