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LATEST NEWS & EVENTS Corporate insolvencies 'will continue to rise'  The number of firms entering into insolvency will continue to increase despite a more positive economic outlook. This is according to Matthew Fell, director of corporate affairs at the Confederation of British Industry, who said that the threat of higher taxes both for businesses and individuals will have a negative impact on enterprises. His comments follow the release of a study by Begbies Traynor, which suggested that worse is yet to come, particularly following the eventual withdrawal of government support mechanisms such as the 'time to pay' scheme, which defers companies' tax liabilities. Mr Fell stated: "Even with some signs of tentative recovery at the end of last year, it is not surprising that ... we continue to see a high number of financial difficulties with firms." The expert also described the economic downturn as the worst recession for more than 60 years. For UK businesses, the outlook remains "pretty bumpy" and there will be more failures to come, he added. Rick Munro, corporate recovery and insolvency partner at Lamport Bassitt, said: "Whilst it may seem counter-intuitive, the peak of a recession generally comes a couple of years after the economy hits the bottom of the economic cycle. "There is no room for complacency. Those that will survive will be those who manage their cash, debtors and overheads most effectively". 
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