§ Mr. HendryTo ask the President of the Board of Trade what was the outcome of the review of the future of the Insolvency Service.
§ Mr. Neil HamiltonOn 22 July 1993,Official Report, column 363, I announced a review to consider the scope for improving the way the Insolvency Service performs its functions and, in particular, to look at ways in which official receivers could concentrate more on their investigatory role by involving the private sector more in the mechanical processing work in insolvencies. The review was carried out by Stoy Hayward Consulting.
I have considered Stoy Hayward's report—a summary of which has been placed in the Libraries of both Houses—and have decided that its findings provide a sufficient basis for further, more detailed work to be done to assess the costs and benefits of and mechanisms for involving the private sector more in those mechanical, processing tasks undertaken by the official receiver in relation to bankruptcy and compulsory liquidation cases. The specification for this further work has been drawn up and a letter of invitation issued. If this work reveals likely value for money gains in pursuing any of the options identified, I will consider whether there should be live trials in one or more regions.