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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

Budget tax rises could push more firms into trouble, says insolvency specialist

Begbies Traynor Insurance Interest Rates
Pedestrians walks past 'closing down sale' signs in the window of a shoe shop in Walthamstow
The Insolvency Service said company failures remained much higher than during the Covid-19 pandemic and between 2014 and 2019. Photograph: Tolga Akmen/AFP/Getty Images

Higher employment costs as a result of the budget may push more British businesses into financial difficulty, according to the UK’s largest insolvency practitioner.

Begbies Traynor said increased employment costs, as well as higher interest rates, would extend a period of “elevated insolvency levels”, in a statement to the stock market on Monday.

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