Low interest rates cost Begbies

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Low interest rates might have saved the economy from complete depression, but at least one firm regards them with something close to irritation. The insolvency specialist Begbies Traynor reckons it would have had more business if borrowing costs were closer to normal.

Its chairman Ric Traynor said: "There is a lot of financial stress out there. If it wasn't for low interest rates, insolvencies would have been twice what they are."

Begbies' half-year profits edged up £300,000 to £3.4m.