§ Mr. A. Lewisasked the Secretary of State for Industry, Trade and Regional 237W Development whether he is aware that for 1962, the latest year for which figures are available, there were 4,145 bankruptcies, these being 128 per cent. above the 1951 level, that liquidations totalled 4,909, which was 178 per cent. above 1951, and that these bankruptcies and liquidations have been due in part to the higher interest charges, higher rents and rates and other adverse conditions; and what action he proposes to take to assist business to overcome these diffculties.
Mr. D. PriceThe percentage increase in the number of liquidations was 78 not 178; but in any case I cannot accept the premise on which the hon. Member bases his Question.
§ Mr. A. Lewisasked the Secretary of State for Industry, Trade and Regional Development if he is aware that since 1951 there have been 58,079 bankruptcies and liquidations; and whether he will cause an investigation to be held as to why during these years there has been this rapid rise in the failures of private business.
Mr. D. PriceNo. I do not think any useful purpose would be served by such an inquiry. Failure in business is due to manifold causes, including lack of commercial ability. The hon. Member will appreciate that the figures which I gave him in reply to his other question on this subject on the 12th February included very many cases, including since 1951, 24,672 members' voluntary liquidations, where there was no suggestion that creditors would not be paid in full.