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PwC: More need for company debt advice post-Comprehensive Spending Review

Date Added: 13/10/2010  

More firms may need to take company debt advice in the aftermath of the Comprehensive Spending Review.

Later this month, the chancellor George Osborne will lay out a series of public spending cuts in order to make a dent in the UK economy's budget deficit.

According to a report by PricewaterhouseCoopers (PwC), this could mean that more businesses begin to struggle financially and become company debt advice customers.

"Business services and construction industries are likely to be the hardest hit sectors," it noted.

"Northern Ireland, the north-east and Wales are likely to have the greatest job losses as a percentage of total employment."

PwC is therefore calling for the government to provide a platform for firms which are currently in need of company debt advice to grow in the future as the economic recovery gathers pace.

On its release earlier this month, the latest Travelex Confidence Index also suggested that the number of businesses needing to take company debt advice will increase after the Comprehensive Spending Review. 

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