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Last Updated: Monday, 3 July 2006, 12:40 GMT 13:40 UK
Figures reveal new firm failures
David Ruffley
The figures follow a question from David Ruffley MP
Nearly a third of new businesses in the east of England which started in 1997 had ceased trading by the end of 2004, new figures have revealed.

The government statistics show that 32% of firms which registered for Value Added Tax (VAT) between 1997 and 2004 had de-registered by the end of 2004.

The figures were released following a parliamentary question by Bury St Edmunds MP David Ruffley.

He said he was concerned at the level of business start up failures.

About a quarter of new firms in Bury St Edmunds also closed by the end of 2004.

Between 1997 and 2004, 140,400 businesses registered in the East, but 44,925 de-registered by the end of 2004.

The government said the VAT registrations and de-registrations were the best official guide to the pattern of business starts and closures.

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