I have today agreed to the publishing of the Insolvency Service's corporate plan for the period 2010-11.
As a result of changes in public behaviour, with individuals increasingly opting for voluntary insolvency and bankruptcy procedures, the Insolvency Service is planning in 2010-11 to deal with a level of new compulsory insolvency cases within a range of 71,500 to 80,000, significantly less than was predicted in 2009.
The service is also planning to deal with a range of 120,000 to 150,000 redundancy payments and other insolvency-related claims during 2010-11.
The service's "Enabling the Future" programme, a major programme of IT-led investment, and its service transformation plan to implement online services and improve its customers' experience, will deliver significant savings for the service and its customers over the next five years. In 2010-11, the service will review its long-term fees strategy, with a view to reducing its bad provision and the use of BIS funding to cover working capital. This will enable the service to achieve a real-term reduction in insolvency case administration fees of 2.5 per cent.
Action will continue to be taken against bankrupts and company directors in respect of financial misconduct or dishonesty, and the service will continue to investigate the affairs of companies in the public interest. In 2009, the service undertook a new stakeholder satisfaction survey for confidence in its enforcement regime, achieving an overall confidence level of 68 per cent. I have asked the service at least to maintain this level during 2010-11, and I have also set a target in relation to the timeliness of instigating disqualification proceedings in appropriate cases.
I have set targets in relation to the timeliness of releasing reports to creditors in bankruptcy and insolvency cases, and of processing claims for redundancy payments. Also, a target has been set in relation to the overall satisfaction levels of the service's users.
The corporate plan will be available from
|INSS Published Targets||2009-10 Target||2010-11 Target|
|User Satisfaction levels as measured through the Agency User Satisfaction Index1||90%||90%|
|Level of real term reduction in fees for insolvency case administration||Year 3 of a 15% target||2.5%|
|Percentage of reports issued to creditors within8 weeks|
|for bankruptcy cases||N/A||92%|
|for company cases||N/A||80%|
|Stakeholder confidence in The Insolvency Service's enforcement regime||N/A||68%|
|The average time from insolvency order to the instigation of disqualification proceedings in appropriate cases||20 Months||19 Months|
|Action redundancy payment claims|
|within 3 weeks||78%||78%|
|within 6 weeks||92%||92%|
1 This is a combined indicator covering bankruptcy and redundancy cases.
The service will also look to build upon its Charter Mark accreditation (held since 1999) by obtaining Customer Service Excellence accreditation in 2010, and will work towards Investors in People reaccreditation in 2011-12.
In addition to these targets, the service is required to meet centrally promulgated targets relating to replying to correspondence from honourable Members, and making payments to suppliers.
|Other Targets||2009-10 Target||2010-11 Target|
|Reply to correspondence from Members of Parliament within 10 days||100%||100%|
|Process paymentsto suppliers within 30 days||100%||100%|
The Government have also instructed departments and agencies to maximise levels of payment of undisputed invoices within eight days.