Insolvencies up 32% as businesses face tough 2023
December’s corporate insolvencies show the effect of the toxic combination of high interest rates, inflation, rising energy costs, pressures on supply chains and the aftermath of Covid and Brexit as the number of businesses going bust continues to hit record levels.
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Surely the high company insolvencies is almost entirely due to BBL CVLs (which in turn is almost entirely due to HMG incompetence).
There will be a lot more to come. Get rid of IR35. Make sure Landlords can claim the 40% (if in bracket). HMRC to keep their noses out of employment status. etc.etc. Then not only will you see the economy grow, the treasury coffers will get fuller.
It sounds as if the answer is get rid of lefty Sunak and his Chancellor and bring back Liz Truss but with a bit more caution about how she goes about things.
It is a bit terrifying when looking at politicians to see how their minds (if they have them) work. Look two days ahead and that's fine never mind the future. It's certainly been like that for the last 20 years - run the country's economic policy on tomorrow's headlines.
Not much hope for recovery and sanity there and big business doesn't help with the current attitude of 'beggar the customer we'll do what we want and beggar the employees as long as the Directors get their millions.' All the thought for customers and staff exists only in small businesses.
And then there are the unions shouting 'Me, me ,me and beggar the rest of you'.
Doesn't look good for the future.
My insolvency practitioner friend asked me the other month "why is everything broken?". I said you can't expect a 2 year pandemic and lockdown not to have consequences. That together with greed rearing its ugly head and HMRC wanting to tax middle England up to the eyeballs and you have a recipe for disaster. Bring back Truss, at least she had the backing of the Tory members not the MP's who haven't got a clue but just want to keep the "old boys" network.
truss supported the proxy war as does Sunak - forget pandemics, this is mismanagement of the debt book diverting arms and money to Biden and his business interests in Ukraine. But government never looks after the people who look after it! Britain deserves better. Labour would be worse.
Totally agree that IR35 was and always will be a terrible system - never brought in the money for HMRC and is like bringing in a clocking in system onto a factory floor when the factory is closed down.
There is a train of thought that it doesn't matter if Ukraine falls to Russia. The west does business with one or the other. That would probably apply to a lot of the "old USSR". The problem comes when "the world is not enough".
It's official, the destruction, by the uncontrolled demolition of the entire economic and social structure of pretty much the world is all going according to plan.
"Once is happenstance, twice is a coincidence, three times is enemy action" Ian Flemming - Goldfinger
None of what makes no sense but is happening anyway is a mistake or an "unfortunate consequence", the four million plus Ukrainians that starved in the "lockdown" of the Ukrainian Holodomor was the result of the policy of intent, food riots are spreading, Mark Rutter wants to effectively close all Dutch farms and build the "Tristate City" on the land crossing the Belgian and German borders and DEFRA wants to defarm an area the size of Lancashire and hill farm grazing, with ZERO inputs, is being taken over by corporate investors to ofsett the carbon footprint of executives jetting of to Davos et al.
The only question is for how long are we going to accept being suckered?
It's the age old playbook. When you've rinsed the system until it fails, you initiate a war to reset it all and so that pretty much any action can be justified - and imposed. You can also unite the people with a common enemy so that they don't look at their own leaders and what their role was in it all. You make them so they're just grateful to be able to eat.