Business drowning in debt payments, BoE warns

Bloomberg

“Inheritance tax could be abolished within the margin of the OBR’s 20pc quarterly error with billions to spare,” he said, referring to the Office for Budget Responsibility. Medium-sized businesses – those with a turnover of between £10 million and £500 million – are particularly at risk. Seventy per cent may struggle to meet repayments on their debts by the end of 2023, the bank said.

“With fierce levels of international competition, the race is on for the UK government to offer targeted incentives to attract green investment and support firms’ decarbonisation efforts.”Official figures from the Office for National Statistics confirmed that the government has borrowed £56.6 billion so far this year, which is £11.3 billion less than expected by the Office for Budget Responsibility.

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