Hansard

Insolvency

Volume 485: debated on Monday 15 December 2008

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Mr. Hunt

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform how many individuals were declared insolvent in each of the last five years; and how many have been registered as insolvent in the current financial year. (240651)

Mr. McFadden

The following table records the total number of individual insolvencies in each financial year since 2003-04 in England and Wales.

Financial year

Individual insolvencies1 in England and Wales

2003-04

37,843

2004-05

49,175

2005-06

78,333

2006-07

112,585

2007-08

102,028

2008-092

53,454

1 Including bankruptcy orders and individual voluntary arrangements (IVAs).

2 Insolvency data for the current financial year are only available up to September 2008.