Record jump in number of UK firms in financial distress. Nothing is done to control cost of essentials - rent, energy, water, transport. These impact every business, can't shop around. Govt must check profiteering, use public ownership to help businesses and people. www.bbc.co.uk/news/article... - ThreadSky

premnsikka.bsky.social • 38 days ago

Record jump in number of UK firms in financial distress.

Nothing is done to control cost of essentials - rent, energy, water, transport. These impact every business, can't shop around.

Govt must check profiteering, use public ownership to help businesses and people.
https://www.bbc.co.uk/news/articles/c9vmrpdrk4eo

Comments

didi9876.bsky.social•38 days ago

Interest rates need to come down. The shock of pumping them from basically 0 to 5% has strangled the economy and crippled many families. Debatable it did anything to curb inflation, only thing it did was give the wealthy an easy revenue stream and exacerbate inequality.

martandelus.bsky.social•38 days ago

I don't know what you guys can do apart from tax these firms to bits. They shouldn't be allowed to take advantage of a bad situation, feather their nests and bounce off into the sunset while everyone else picks up the pieces, it's just immoral.

martandelus.bsky.social•38 days ago

The BBC misses the point too, higher prices also makes it more difficult for consumers to spend, less custom = less profit, so this line that N.I. contributions are the problem is false. The cost of living crisis, caused by the gas companies being greedy is the issue.

martandelus.bsky.social•38 days ago

Hospitality and leisure were also doomed to start with, a substantial number of people no longer bother with pubs, restaurants or a casual look to the gym. "living with" covid saw to that. So there is a hit there and ignoring that problem compounds their situation.

granvilleg.bsky.social•38 days ago

Reeves and Starmer are too busy lining their pockets to take any notice of the facts. In short, they don't care.

lucidr.bsky.social•38 days ago

How many Sir Starmers does it take to change a light bulb 💡

None, Starmers only use gaslight.

rineen.bsky.social•38 days ago

Ahhh, the penny's dropped, what they mean by growth is reverse growth, just like change now means more of the same.

truthseeker1973.bsky.social•38 days ago

I reckon our cosy government will parrot the same: “these are the outcome of 14 years of Conservatives’ policies!” We know that, everyone knows it. What’s next?

actual-intell.bsky.social•38 days ago

"Businesses in the most distress include those in hospitality, leisure and retail, but the construction industry is also facing challenges."

Is it just me but didn't those kind of businesses used to employ lots of European workers? Where did they all go?

whysocialmedia.bsky.social•38 days ago

We have a cafe in the family. The winter electricity bill was double what it was last year, cost of food way up. Price gouging is the big enemy.

actual-intell.bsky.social•38 days ago

Yup corporations being ravenous, eternal, greedy monsters are also a huge factor.

gazb1.bsky.social•38 days ago

The BoE is also to blame for leaving interest rates too high for too long. And quantitative tightening. Brexit is also a huge headwind.

bid47.bsky.social•38 days ago

Energy is fundamental and the cost in the UK is unsustainable due to the unchecked profiteering of the energy Cos. Yet more Govt failure.

keithoaks.bsky.social•38 days ago

It seems like common sense, but the government won't do it.

jmc123.bsky.social•38 days ago

Too many politicians are unaware of what businesses face in the real world.
Too many politicians are unaware of what the ordinary person faces in the real world.

jmc123.bsky.social•38 days ago

And they don't care?

michaelb007.bsky.social•38 days ago

Have to remember that Rachel from accounts never does impact assessments on her “great initiatives” only to find out after her announcements that it will cost the treasury money.
She’s totally out of her depth. Wait and see how many businesses close due to her budget

kaynells.bsky.social•38 days ago

Kier Starmers Labour will find any excuse not to enact regulation private profiteering. They are like robots without that programming.

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