Insolvencies drop to a four-year low

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The number of Britons who were declared insolvent fell to its lowest since the start of the recession in 2008 during the last quarter, in the latest sign of an improving economy in the UK.

Accountants RSM Tenon said just over 25,000 people were declared personally insolvent between June and September, which was the lowest level since the first quarter of 2008.