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19/06/2009
Minister pledges to battle bankruptcy threat |
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Battling bankruptcy and business failure is something the government is particularly keen to do, a Labour politician has said.
Minister for housing and planning John Healey said the approach of the current administration will continue to be more interventionist than the way the Conservative government dealt with the last recession in the early 1990s.
He said: "We are taking whatever action is needed to help people stay in their homes, to help people stay in work and also to help firms stay in business.
The attitude of the previous government was to let people "struggle" through on their own, he added.
Mr Healey claimed the recession would resemble the Nike "swoosh" symbol in shape, with a deep decline followed by a gradual recovery.
Those whose businesses may be facing difficulties in the current downturn could benefit from seeing an insolvency lawyer.
Figures from the UK Insolvency Service show that in the first three months of this year 5,110 firms were liquidated in England and Wales, the fifth successive quarterly rise in the total.
Written by Anthony Dyson
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