Labour accused over insolvencies

THE TORIES yesterday accused the government of causing over half of the insolvencies since the start of the recession.

The government handed out 3,500 winding-up orders in 2008-09, the Tory party said, citing figures from the Insolvency Service.

That amounts to around 60 per cent of 6,000 businesses that were made insolvent. Most of the businesses would have owed unpaid taxes.

“This is a damning indictment of Labour’s attitude to business,” said shadow chief secretary Phillip Hammond.