Government insolvency moves 'not enough'

Plans announced in the Budget to review Britain's insolvency laws are insufficient, it has been argued.

Chancellor of the exchequer Alistair Darling revealed plans to reconsider the legal arrangements after Conservative leader David Cameron said his party would adopt US-style laws to protect firms, the Financial Times report.

Although he welcomed this as a positive development, managing director of the European High Yield Association Gilbey Strub told the paper that Mr Darling could have gone further.

He stated: "The government could do a lot more to promote company rescue, which would have a direct bearing on job preservation and abating the spread of economic collapse."

Those keen to deal with difficulties in their firm may pick up a pack on managing a business.

UK redundancies in the first quarter of 2009 were 57 per cent higher than in the equivalent period in 2008, a report by PricewaterhouseCoopers revealed this week.

Written by Rachel Crook

Published on: April 24, 2009

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