‘Austerity behind rise in personal insolvencies’

A 17 per cent increase in personal insolvencies has been brought about after continuing Westminster austerity resulted in “incomes being squeezed”, Holyrood’s business minister said.

Paul Wheelhouse made the comments after the latest data showed debts forced 2,839 people to either become bankrupt or take out a protected trust deed over the period April to June 2017.

The figure is up from 2,420 in the same period of 2016.

Mr Wheelhouse said: “On the personal insolvency front, there is no question that continuing austerity has led to incomes being squeezed and more people suffering the anxiety and distress of insolvency as a result.”

While personal insolvencies rose, new data from Accountant in Bankruptcy showed a fall in businesses suffering the fate.