So Dragons’ Den star Peter Jones has weighed into the SME credit argument,
taking a tough line on suffering companies. He warns that credit must be
drip-fed into the economy, as a flood would allow undeserving companies to avoid
This could put the UK economy on the back foot, as these underperformers
would only collapse later down the line – at the further expense of creditors,
suppliers and banks.
If this happened, and banks shrunk back into their shells, better structured
companies could suffer another credit crisis.
The slow growth in transactional work we are seeing for advisers would boom
and bust and we’d be back to where we started. To preserve our chances of
getting out of the hole we’re in, the flow of credit must be controlled, but we
sympathise with the plight of advisers’ clients going to the wall without good
reason. For the greater good, we can’t go back to the bad old days, or “the
self-fulfilling cycle of increased debt”, as Jones told Accountancy
Credit boom would save bad businesses, warns Dragon
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team