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Volume 487: debated on Monday 9 February 2009

To ask the Chancellor of the Exchequer if he will estimate the loss to the economy caused by the insolvency of (a) large and (b) medium-sized businesses during the 2008-09 financial year; which businesses declared themselves insolvent during this period; and if he will make a statement. (247993)

The Government publish two economic forecasts per year, which are based on all relevant forecast factors and evidence. Although consistent with other forecasters, the economic forecast does not include a forecast of insolvencies by large or medium-size businesses. The Government last published a forecast in the pre-Budget report 2008 (Cm 7484) on 24 November and will publish an updated forecast at Budget 2009.

The Insolvency Service does not maintain a named list of insolvent companies. Companies House holds records of all registered companies on their registers, including those in insolvency and dissolution. However, these could not identify those which are "large" and "medium-sized" businesses, nor would a full record of all insolvent companies be available for the financial year 2008-09 until some time after the end of the year.