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Cameron makes insolvency pledge

Published on 12 Jan 2010 under category: legal

David Cameron has suggested that the insolvency threshold should be increased.

The Conservative party leader told the BBC's Andrew Marr show that this should be lifted from £750 to £2,000.

He commented: "When you look at the figures, more small businesses have gone bankrupt in this recession than in previous recessions and a number have been pushed there by government itself."

Mr Cameron suggested that this claim relates to the government's pursuit of firms owing small amounts of tax.

He also pledged to reduce the number of forms that are needed to be completed during the process of launching a new business, should his party win power at the general election later this year.

Last week, a study by business advisory firm PFK suggested that there will be 24,000 insolvencies in Scotland this year.

This comes after more than 17,000 Scottish people were made bankrupt in the first nine months of last year.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.