HC Deb 12 February 1969 vol 777 cc1310-1
29. Mr. J. H. Osborn

asked the President of the Board of Trade what was the number of compulsory and voluntary liquidations of private and public companies, respectively, and in total in 1968; and if he will tabulate how these numbers compare with those for previous years, indicating the value of the assets involved.

Mr. Dell

As the Answer contains a number of figures, I will, with permission circulate it in the OFFICIAL REPORT.

Mr. Osborn

Is it not a fact that Government measures have caused considerable stress among the medium companies because of the credit squeeze? What steps will the Minister take to keep medium and small businesses in business and operating?

Mr. Dell

I do not think that that is a reasonable interpretation of the figures which the hon. Gentleman will see when they are published. For some years, including from 1959, the figures have been showing a rising trend. That is due to a number of factors, partly the fact that there are a larger number of companies registered. But most of the voluntary liquidations are owners' liquidations and do not imply that the firm concerned was insolvent.

Following are the figures:

THE NUMBERS OF COMPULSORY AND VOLUNTARY LIQUIDATIONS COMMENCING IN ENGLAND AND WALES IN EACH OF THE PAST TEN YEARS WERE:—
Compulsory Liquidations
Year Public Companies Private Companies Total
1959 … 7 393 400
1960 … — 525 525
1961 … — 612 612
1962 … 4 714 718
1963 … 9 720 729
1964 … 8 716 724
1965 … 12 793 805
1966 … 5 929 934
1967 … 17 1,213 1,230
1968 … 8 1,109* 1,117*
Voluntary Liquidations
Year Public Companies Private Companies Total
1959 … 128 3,330 3,458
1960 … 147 3,580 3,727
1961 … 22 4,055 4,077
1962 … 73 4,118 4,191
1963 … 129 4,326 4,455
1964 … 142 4,292 4,434
1965 … 159 5,710 5,869
1966 … 179 10,333 10,512
1967 … 142 7,001 7,143
1968 … 111 8,080 8,191
* Provisional.

Statistics of the total annual value of assets involved in liquidations are not available.