Insolvency Service

HC Deb 01 July 2002 vol 388 cc134-5W

Mr. Ben Chapman

To ask the Secretary of State for Trade and Industry what targets she has set the Insolvency Service executive agency for 2002–03. [66090]

Miss Melanie Johnson

The Insolvency Service's planning assumption is that compulsory insolvencies will total 28,000 in the year to 31 March 2003, and I have therefore set it the target of completing 28,500 case administrations in the year to 31 March 2003 and to maintain the levels of Income Payment Orders achieved.

I have set the Service two new targets for 2002–03. The first is to publish quarterly results of the Service's User Satisfaction Index and introduce a benchmark score by 31 March 2003; and the second is to achieve IiP re-accreditation in the autumn of 2002.

I have also set it the targets of containing increases in the unit cost of administering bankruptcy and compulsory liquidation cases by 1 per cent. in real terms over the period 2002–04; and containing increases in the cost of investigations of bankruptcy and compulsory liquidation cases by 10 per cent. in real terms over the period 2002–04. These increases reflect plans by the Service to invest in information technology and staff resources to prepare for implementation of the Enterprise Bill and are expected to generate net reductions in unit costs over a five-year period.

I expect the Service to continue to achieve the levels of proceedings for disqualification taken against unfit directors as in previous years and reports on cases of criminal misconduct as in 2001–02. At the same time I look to the Service reducing the average time of the conclusion of disqualification proceedings arising from non-compulsory insolvencies from 27.5 months to 26 months by 31 March 2003; and to increasing the percentage of disqualification cases concluded within 30 months from 72 per cent. to 78 per cent. and those within 24 months from 33 per cent. to 40 per cent.

I also expect the Service to check and action at least 98 per cent. of Insolvency Services Account payment requisitions within four days or the due date, and to action 100 per cent. of invoices for payment within 30 days of receipt and 95 per cent. of invoices for payment within 20 days.