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Bankruptcy: Milton Keynes

Volume 488: debated on Wednesday 25 February 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform how many (a) bankruptcy orders and (b) individual voluntary agreements were recorded in Milton Keynes in each year since 1997. (257403)

[holding answer 23 February 2009]: Table 1 as follows shows the number of bankruptcies and individual voluntary arrangements (IVAs) in Milton Keynes in each year between 2000 and 2007, derived from postcodes provided by insolvent individuals1, 2. Earlier figures are not available on this basis; figures for 2008 are not yet available.

1 Classifying bankrupts and IVAs into administrative geographies is done using the postcode that the insolvent individual provides. The use of this in assigning an individual to a borough is thus only as reliable as the postcode information provided.

2 In particular, inaccurate or missing postcodes mean that the numbers in the above table will be subject to an element of missing data. Nationally, for bankruptcies, this proportion has been decreasing from about 12 per cent. in 2000 to less than 4 per cent. in 2007. For IVAs this proportion has been decreasing from about 15 per cent. in 2000 to about 3 per cent. in 2007.

Table 1

Bankruptcies

IVAs

2000

83

29

2001

107

27

2002

109

29

2003

128

38

2004

178

50

2005

186

128

2006

304

235

2007

306

274