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Spending Review 'will lead to increase in needed business insolvency advice'

Date Added: 19/10/2010  

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Measures outlined in the government's Spending Review are likely to lead to an increase in the number of organisations needing to take business insolvency advice.

Phil McCabe, media and PR manager for the Forum of Private Business, stated that it is inevitable this will happen after the publication of the review, which takes place later this week.

"The Spending Review is a rare opportunity to reduce tax administration and other red tape in the name of efficiency and also in order to stimulate business growth, which primarily means job creation," he said.

Mr McCabe forecast that the reduction of contracts in the public sector will lead to companies which rely on this work to stay afloat to need to take business insolvency advice in the near future.

His comments come shortly after David Sear, global managing director at Travelex Global Business Payments, stated that the inability of British firms to export their goods and services could lead to them becoming business insolvency advice customers. 

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