Bankrupcy Thursday, 5th March 2009

In the period from 2008 to 2009 there will be an estimated £32,900 bankruptcies as the recession bites harder. This represents a threefold increase on the period 2006 to 2007
In the first six months of this financial year alone - up to the end of October - 19,100 individuals or firms declared themselves penniless.

At the same time, the number of companies going into administration owing money to HMRC could more than double, according to official Government figures.

If the number of firms failing continues at the same rate, some 5,400 will have called in the administrators after being chased by HMRC by next March - a year-on-year rise of 132%.

Is the Government failing small businesses. At the very time small businesses need the most help the Government is actually driving them under, hastening the rapid increase in bankruptcies.

In his multi-billion-pound economic rescue package, Gordon Brown was supposed to be helping Britain on a path of recovery.