My honourable Friend the Parliamentary Under Secretary of State for Small Business, Consumers and Corporate Responsibility for the Department of Business, Energy and Industrial Strategy(Margot James) has today made the following statement:
I have set performance targets for the Insolvency Service for the financial year 2017-18.
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, lenders and creditors confidence to take the commercial risks necessary to support economic growth.
In 2017-18, an important priority for the Insolvency Service will be to maintain its current high level of customer service whilst initiating a major change programme. I have set measures and targets at a level which reflects the challenges that the agency continues to face.
This statement has also been made in the House of Commons: