§ Mr. HancockTo ask the Secretary of State for Trade and Industry how many(a) personal and (b) company bankruptcies there were in each of the last three years for which there are records; what assessment she has made of recent trends; and if she will make a statement. [150214]
§ Mr. SutcliffeThe following table shows total personal and company insolvencies in England and Wales for 2000 to 2002 and the first three quarters of 2003. Figures for 2003 as a whole will be available on 6 February.
The latest quarterly figures (Q3 2003) shows decreases in company insolvencies and increases in individual insolvencies, when compared to both the previous quarter and the corresponding quarter of 2002. The latest annual figures continue increasing trends in levels of insolvency since 1997 for both companies and individuals. However the annual rate of company insolvencies for the last 12 months remains at the Q2 level of 1.0 per cent., the lowest level since Q1 1989 and just over a third of the level reached following the recession in the early 1990s.
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Insolvencies in England and Wales: Seasonally adjusted Company insolvencies Individual insolvencies Years Total Compulsory liquidations Creditors' voluntary liquidations Total Bankruptcy orders Individual voluntary arrangements1 2002 Q1 4,014 1,376 2,638 7,244 5,808 1,437 Q2 4,130 1,608 2,522 7,596 6,003 1,593 Q3 3,882 1,475 2,407 7,779 6,180 1,600 Q4 4,280 1,772 2,508 7,967 6,302 1,665 2003 Q1 3,672 1,540 2,132 8,146 6,562 1,584 Q2 23,825 21,416 22,409 28,738 26,807 21,931 Q33 3,398 1,153 2,245 9,094 7,086 2,008 1 Including Deeds of Arrangement. 2 Revised, reflecting an amendment to the raw data/update of seasonally adjusted figures. 3 Provisional.