UK Budget Increases Corporate Insolvency Risks, Says Begbies Traynor

Rising employment costs and sustained high interest rates are expected to challenge UK businesses, leading to continued demand for insolvency services.

• Begbies Traynor, a leading UK insolvency specialist, predicts elevated insolvency levels due to increased national insurance contributions and high interest rates.
• The recent UK budget has raised employers' national insurance contributions, impacting businesses across the country and increasing financial pressures.
• The Labour government's budget aims to cover increased spending on public services, prompting concerns about the economic burden on businesses.
• Begbies Traynor has reported a 16% increase in revenue and pre-tax profit for the first half of the financial year, benefiting from the rise in insolvency cases.
• Despite increased revenues, Begbies Traynor's share price has not seen growth, partly due to the higher costs associated with the budget changes.

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