Nick Clegg brother's firm cuts losses

The deputy prime minister Nick Clegg's coalition government is clearly struggling to cut the deficit, so perhaps it should take a leaf out of his brother's book.

Accsys Technologies, the firm run by Paul Clegg, which turns sustainably-grown soft woods into timber strong enough for the building trade, has cut annual losses by a quarter as demand grows for its treated woods. A deal with Belgian chemicals group Solvay helped it cut losses by 25 per cent to €11m.