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<p>The Government was pleased to see that the latest statistics reported by the Insolvency
Service showed the number of corporate insolvencies in March 2024 had fallen by 28%
compared to March 2023.</p><p>The Government continues to help businesses, including
through a swathe of policy measures in the Autumn explicitly aimed at ‘Backing British
business’. Recent and current policies supporting businesses include:</p><p>• Energy
Bills Discount Scheme that provided discounts on high energy bills to eligible businesses
and other non-domestic energy users from April 2023 to April 2024.</p><p>• Continued
frozen small business rates multiplier and business rates relief for the Retail, Hospitality
and Leisure sector, the latter policy supporting around 230,000 properties up to £110,000
per business.</p><p>• Payment and cashflow review outlining measures to combat late
payments that can jeopardise stable cashflows.</p><p>The Government will continue
to monitor the UK corporate sector, using official data and engaging with firms and
business groups to inform policy decisions.</p>
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