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>
The Government continues to help businesses, including through a swathe of policy measures in the Autumn explicitly aimed at \u2018Backing British business\u2019. Recent and current policies supporting businesses include:<\/p>
\u2022 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>
\u2022 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>
\u2022 Payment and cashflow review outlining measures to combat late payments that can jeopardise stable cashflows.<\/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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4850", "label" : {"_value" : "Biography information for Gareth Davies"} } , "answeringMemberConstituency" : {"_value" : "Grantham and Stamford"} , "answeringMemberPrinted" : {"_value" : "Gareth Davies"} , "dateOfAnswer" : {"_value" : "2024-05-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-05-13T12:46:45.66Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Business: Insolvency"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 November 2023 to Question 1823 on Business: Insolvency, what steps his Department is taking to help tackle the trend in the number of companies declaring insolvency in that period.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1409", "label" : {"_value" : "Biography information for Mr Gregory Campbell"} } , "tablingMemberConstituency" : {"_value" : "East Londonderry"} , "tablingMemberPrinted" : [{"_value" : "Mr Gregory Campbell"} ], "uin" : "25177"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 1, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }