Labour accuses the Government of failing businesses, as the UK sees a record fifth quarter in a row with over 100,000 business deaths

Jonathan Reynolds MP, Labour’s Shadow Business Secretary, commenting on the figures showing that between January and March, the UK lost 137,000 businesses, said:

“This is the first time in recorded history that the UK has lost more than 100,000 businesses for five successive quarters. It’s clear businesses just can’t afford the Conservatives.

“Businesses and families need an emergency budget to deal with the cost of living crisis and address spiralling costs that are hurting local economies.

“Labour would cut taxes for small firms saving firm up to £5,000 this year and bring in a contingency fund to help energy intensive industries deal with rising energy costs. Labour backs British business.”

ENDS

Notes to editors:

1. Figures released today:
   https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/bulletins/businessdemographyquarterlyexperimentalstatisticsuk/januarytomarch2022#business-closures