Business of the House

Barry Sheerman Excerpts

Thursday 24th January 2013 Commons Chamber

[Mr Lansley]

I am interested in what my hon. Friend has to say. Of course, we must be careful, as the Executive, not to trespass on the prosecuting decisions of the prosecuting authorities, but I will raise the points he makes with my colleagues at the Home Office and the Ministry of Justice.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

Does the Leader of the House share my concern about the large number of bankruptcies, including the recent ones at Comet and HMV, and those at many small businesses up and down the country? Is he also concerned about the growing evidence of a big question mark over the ethics of the people who carry out the process and administration of bankruptcy? The way they work it means that they suck all the lifeblood out of what remains in the business and leave nothing for the creditors. May we have a debate on this corrupt process, which goes to the very top of some of our big accountancy companies?

[Mr Lansley]

The hon. Gentleman will understand that I make no comment on his closing remarks. In this Parliament, we have legislated for a reform of insolvency practices. A review is under way to look at some of the ways in which the claims of creditors can best be met during insolvency. I share his concern where bankruptcies occur, but I would also point out that in the past year for which figures are available—I believe it was 2011—we had the highest rate of new business formation in this country for a long time.