Insolvency Service Annual Plan 2023-24
- I have set performance targets for the Insolvency Service for the financial year 2023-24. The Insolvency Service is the Government agency that delivers public services to those affected by financial distress, or failure, by providing frameworks to deal with insolvency and the financial misconduct that sometimes accompanies or leads to it.The Insolvency Service aims to deliver economic confidence through a fair corporate and personal insolvency regime that gives investors and lenders confidence to take the commercial risks necessary to support economic growth. It has a crucial role to play in supporting businesses and individuals in financial difficulty or facing redundancy owing to their employer’s insolvency.This year, the Insolvency Service has reinforced its commitment to putting customer satisfaction and real-life impacts at the heart of its services and to supporting the Government in delivering against their priority to protect consumers and support businesses to thrive, and make the UK a safe place to do business.I have set measures and targets at a level which will drive the Insolvency Service to deliver its essential services effectively for its stakeholders. These measures include:
Measure
2023-24 Target
Covid 19 support scheme misconduct/fraud related outcomes as a percentage of all disqualifications and criminal outcomes 1
49% or better
Customer Satisfaction score
84% or better
Average number of days taken to process redundancy payment claims
14 days or less
Issue reports to creditors within fifteen days of interviewing (percentage issued)
94% or better
Percentage of Breathing Space statutory notices issued electronically
85% or better
Volume of cases where any distribution is made
19,000
Value of distributions to creditors and debtors
£39 million
The Insolvency Service’s annual plan for 2023-24 is published in full on gov.uk.1 This target seeks to ensure that addressing covid support fraud remains a key priority for overall enforcement activity, as such we want to see 49% or more of our total enforcement outcomes related to this type of misconduct.[HCWS897]
Shared Parental Leave
- The Government have today published our response to the consultation on parental leave and pay. This confirms that the Government will make changes to paternity leave, delivering our manifesto commitment to make it easier to take.In July 2019, the Government consulted on whether the current arrangements for parental leave and pay met our policy objectives, and if more could be done to better balance the gender division of parental leave and pay between parents. We sought views on the costs and benefits of reforming parental entitlements, and any trade-offs that might need to accompany such reform.The Government response, published today and placed in the House Library, sets out the changes now planned for paternity leave, fulfilling our commitment to make it easier to take. The Government will legislate when parliamentary time allows to:Give employed fathers and partners more choice and flexibility around how and when they take their paternity leave, allowing them to take two separate blocks of one week of leave if they wish;Give employed fathers and partners the ability to take their leave at any time in the first year, rather than just in the first eight weeks after birth or placement for adoption; andChange the notice requirements for paternity leave to make these more proportionate to the amount of time the father/parent plans to take off work. We will cut the amount of notice of dates from 15 weeks before the expected week of childbirth to 28 days before the leave will be taken. This will give parents more flexibility in planning to take the leave that they need.