Friday, May 05, 2006

Bankruptcies up 50% in the UK - Brown: "we have got to show in the next few days that we have sorted these problems out"

The British government slipped out devastating news for many companies today.

Hidden in the news of re-shuffle and local election results government spin doctors slipped out more bad news today.

Company bankruptcies of 1,428 compulsory liquidations, an increase of 11.0% on the previous quarter and an increase of 29.5% over the same period last year will have dashed the hopes of many business people this year and 15,389 personal bankruptcies, an increase of 12.5% on the previous quarter and an increase of 51.2% on the corresponding quarter of the previous year are announced on the same day that the chancellor of the exchequer said: "We have got to (resolve our problems) competently, efficiently, and we have got to show in the next few days -- not just the next few weeks -- that we have sorted these problems out," he told BBC radio.

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