Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty’s Government, in the light of the survey finding by the Association of Business Recovery Professionals that 72 per cent of their members who responded to the survey believe that the outcome of the referendum will lead to an increase in corporate insolvencies, what plans they have in place to deal with an increase in insolvencies.

We are committed to supporting those businesses that trade with the EU and wider international markets, as well as continuing to encourage record foreign direct investment that supports business and communities up and down the country. Due to the decisions this Government has taken, the British economy is fundamentally strong and we are well-positioned to negotiate our departure from the EU. Employment is at a record high and there are almost a million new businesses in our country since 2010.

Departments are undertaking analysis to understand the impacts that withdrawal from the EU will have on businesses and consumers.