UK Insolvencies Surge as Higher Business Costs Deepen Strain

UK insolvencies are rising sharply, with a leading trade credit insurer saying any new government policies that stand to raise business costs risk further pressuring vulnerable sectors.
The increase reflects the impact of measures announced in last year’s budget, including higher minimum wages and reduced business relief rates, according to Coface SA. The data analysed by the firm showed insolvencies rose 3.9% year-on-year between May and October, reversing a decline seen before the policies took effect in April.