The statistics of Scots being crafted bankrupt moves on to outshine that south of the Border since it was discovered yesterday that insolvencies in England and Wales dwindled in the last quarter.

The government's Insolvency Service documented a 3 per cent dip in the digit of individual insolvencies in England and Wales in the three months to the conclusion of June, the initial turn down since 2007.

Nevertheless there was a 4 per cent climb in the numeral of Scots going broken over the similar period, the Scottish Government's Accountant in Bankruptcy discovered previous month.

There were 5,378 individual insolvencies in Scotland over the quarter, went up from 5,175 in the initial three months of the year.

The most recent figures signify that 0.43 per cent of the Scottish population has been prepared bankrupt in the last year, contrasted to 0.26 per cent in England and Wales.

And Bryan Jackson, who is the corporate recovery partner at PKF business advisers and accountants, swayed the warning signals that Scotland's high dependency on public sector employment might glimmer a new flow in insolvencies north of the Border once government expenditure slash kick in.