Tuesday 21st July 2015

(9 years, 4 months ago)

Written Statements
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Anna Soubry Portrait The Minister for Small Business, Industry and Enterprise (Anna Soubry)
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I have set performance targets for the Insolvency Service for the financial year 2015-16.

The targets reflect a rise in stakeholder confidence in the agency’s enforcement action and in its timeliness in reporting to creditors, but also the challenges that it continues to face.

The Insolvency Service has reduced its costs significantly to reflect a continuing reduction in demand for its official receiver services, which handled fewer than 23,000 cases in 2014-15 compared to 27,000 in 2013-14. The number of redundancy claims has also fallen, with 62,000 claims in 2014-15 compared to 75,000 in 2013-14. The numbers of official receiver cases and redundancy claims are expected to fall still further in 2015-16.

The Insolvency Service annual plan 2015-16 will be available from 15 July at: http://www.bis.gov.uk/insolvency/about-us. The plan continues the agency’s focus on deficit reduction and actions that will support long-term resilience.

Insolvency Service published targets

2014-15 Target

2014-15 Actual

2015-15 Target

Value for Public Money

Deliver against agreed budget, with sound financial management and robust governance

Achieved

Achieved

Achieved

Customer/Stakeholder Satisfaction

Customer satisfaction sustained in upper quartile of comparable public bodies (survey)

90%

95%

90%

Confidence in enforcement activity (survey).

69%

73%

73%

Per cent of reports issued to creditors within eight weeks (bankruptcy/company cases)

92% / 85%

98% / 95%

95%

Per cent of disqualification cases in which proceedings are instigated under 23 months.

95%

98%

97%

Operational Effectiveness

Per cent of bankruptcy restrictions authorised within 11 months of insolvency

80%

86%

80%

Action redundancy payment claims within three weeks.

80%

87%

80%

Action redundancy payment claims within six weeks.

92%

97%

92%



Attachments can be viewed online at: http://www.parliament.uk/writtenstatements

[HCWS157]