Worrying news after budget
The piece from the telegraph is a warning for the gov. For me, this shows how damaging things are right now
Rachel Reeves’s “Budget for Growth” was followed by the largest spike in businesses closing down since lockdown, analysis by The Telegraph has found.
Some 4,500 companies shut down from October to December 2024, marking the biggest quarterly increase in closures since the period of Covid-19 lockdowns.
The third quarter of 2024/25 has now become the worst month of voluntary liquidations in the UK since the fourth quarter of 2020/21, when 5,133 businesses had to shut their doors.
Business groups said the findings were “not a surprise” and accused the Chancellor of creating a “hostile environment for businesses” by raising employers’ national insurance contributions in October’s Budget.
The tax rise formed the centrepiece of Ms Reeves’s “Budget for Growth” but business chiefs warned that it will force them into making redundancies.
Rachel Reeves’s “Budget for Growth” was followed by the largest spike in businesses closing down since lockdown, analysis by The Telegraph has found.
Some 4,500 companies shut down from October to December 2024, marking the biggest quarterly increase in closures since the period of Covid-19 lockdowns.
The third quarter of 2024/25 has now become the worst month of voluntary liquidations in the UK since the fourth quarter of 2020/21, when 5,133 businesses had to shut their doors.
Business groups said the findings were “not a surprise” and accused the Chancellor of creating a “hostile environment for businesses” by raising employers’ national insurance contributions in October’s Budget.
The tax rise formed the centrepiece of Ms Reeves’s “Budget for Growth” but business chiefs warned that it will force them into making redundancies.
