As regular readers will know, we have long been critical of the actions of Andrew Bailey and the MPC and, unfortunately, we find ourselves disappointed once again.

This time it is the news that Silvana Tenreyro who, in our opinion understands the pressures that we are all facing, is being replaced with Megan Greene, global chief economist at Kroll.

We have nothing against Megan per se and do not doubt her capability for the job but what does concern us is that she is another hawk which means that we will be left with just one lone voice calling for cuts to help UK plc rebuild our economy and aide households that continue to face mounting financial pressures.

We share the views of some commentators that this is a missed opportunity which is likely to delay any rate cuts and so negatively impact our economy at such a critical time. As always, we hope that our negative views are proved wrong, but judging by the number of businesses that are approaching us for help at the moment, we fear not.

If you are involved with, or know of any business struggling financially we suggest that you talk to us.

The directors of SKSi look at a formal insolvency process as the last resort – not the first. It is their long held belief – borne out with proven experience – that seeking advice at the first sign of financial pressures will lead to a more favourable outcome. Conversely, doing nothing and hoping the problem will go away is far more likely to lead to a call from the bank and an insolvency process.

We are always available for an initial zero cost assessment which can be arranged by contacting Fred Satow.