Insolvency Service Performance Targets
The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Jo Swinson)
I have today published the Insolvency Service’s performance targets for the period 2013-14.
In recent years there has been a significant fall in the number of new compulsory insolvency cases dealt with the by the official receiver, from 78,000 cases in 2009-10 to a level of 33,500 in 2012-13, with the expectation that this will fall further in 2013-14.
The service has already reduced its cost base to reflect reducing demand, including a reduction in its staff complement from 3,200 to 2,000 from October 2009 to April 2013, but more needs to be done. Efficiency gains achieved in 2013-14 will either be released as a cost saving, or used to fund necessary self-investment.
The service’s indicators for 2013-14 demonstrate its performance against the needs of stakeholders and customers. Its priorities will be to enhance confidence in the insolvency regime, particularly for its enforcement output, and to improve customer experience and process efficiency. I have set targets at a level which appropriately reflects the degree of change the service is experiencing and yet will remain challenging to achieve.
A copy of “the Insolvency Service Annual Plan 2013-14” will be placed in the Libraries of both Houses and is available online at: http://www.bis.gov.uk/insolvency/About-us.
Insolvency Service Published Targets | 2012-13 Target | 2012-13 Forecast | 2013-14 Target | |
|---|---|---|---|---|
Value for Public Money | Deliver against agreed 2013-14 budget, with sound financial management and robust governance | Agreed budget | ||
Customer/Stakeholder Satisfaction | Customer satisfaction | 90% | 95% | 90% |
Confidence in enforcement activity | >65% | 66% | >66% | |
Delivery of customer impacts in Annual Plan | On time | |||
Operational Effectiveness | % of reports issued to creditors within eight weeks bankruptcy/company cases | 92/80% | 97/92% | 92/85% |
% of disqualification cases in which proceedings are instigated under 23 months | 90% | 98% | 95% | |
% of bankruptcy restrictions authorised within 11 months of insolvency | 80% | 81% | 80% | |
Action redundancy payment claims within three weeks/six weeks | 80/93% | 75/91% | 80/92% |
The service will also look to build upon its current customer service excellence and investor in people status, by gaining re-accreditation in 2013.