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House of Commons Hansard
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Insolvency Service Performance Targets 2019-20
24 October 2019
Volume 666
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I have set performance targets for the Insolvency Service for the financial year 2019-20. The Insolvency Service is the Government agency that provides public services to those affected by financial distress or failure.

The Insolvency Service provides the frameworks that deal with insolvency and the financial misconduct that sometimes accompanies or leads to it. Its aim is to deliver economic confidence through a corporate and personal insolvency regime which is regarded as fair and that gives investors and lenders confidence to take the commercial risks necessary to support economic growth.

In 2019-20, an important priority for the Insolvency Service will be to maintain its current high level of customer service whilst delivering a major change programme. I have set measures and targets at a level which reflect the challenges that the agency continues to face.

Ministerial Target

2018-19 target

2018-19 performance

2019-20 target

Delivering economic confidence

Per cent of users[1]  who are satisfied with the Insolvency Service

85% or greater

84%

85% or greater

Supporting those in financial distress

Average calendar days taken to action a redundancy claim

14 days or fewer

12.2 days

14 days or fewer

Tackling financial wrongdoing

Average time taken to obtain a disqualification

21 months or fewer

19.9 months

20 months or fewer

Average time taken to obtain a bankruptcy restriction

10 months or fewer

8.6 months

10 months or fewer

Average time taken to instigate a criminal prosecution

24 months or fewer

25.9 months

24 months or fewer

Maximising returns to creditors

Per cent of reports to creditors issued within 15 calendar days of an attended interview [2]

90% or greater

92.6%

91% or greater

Total value distributed to creditors [3]

£55m or greater

£61.3m

£60m or greater

Financial management

Expenditure to be managed within budget

Achieve

Achieved

Achieve

[1] a) Debt relief order debtors; b) approved intermediaries; c) bankrupts; d) directors of insolvent companies; e) redundancy payment claimants; f) institutional creditors; g) non-institutional creditors; h) insolvency practitioners.

[2] Or where a decision is made that no interview is required or the agreed point of non-surrender.

[3] Excludes distributions relating to Carillion.

[HCWS36]