Barry Sheerman – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Barry Sheerman on 2015-01-13.

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to ensure that the Insolvency Service provides value for money for creditors of liquidated companies.

Jo Swinson

The Insolvency Service has recently undertaken reviews of its systems and processes to identify ways to reduce costs. It also regularly reviews its fees. In addition, measures contained in the Small Business, Enterprise and Employment Bill will benefit creditors by saving an estimated £20m per year from the cost of all insolvency proceedings.