Budget sparks 13% jump in insolvencies...with more due

BUSINESS insolvencies rose 13% in November, with experts warning worse is to come.

- Ali Lyon

The looming employers' national insurance increase in April will leave many firms in a "perilous position", it was said.

Analysts said the impact of the Budget has hit companies hard.

Nearly 2,000 firms went to the wall in England and Wales in November, a double-digit jump from October's figure, that reversed a four-month decline in insolvencies stretching back to July.

November also saw the number of administrations rise by more than a third.