Minister for Employment Rights, Competition and Markets (): 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 which
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 supporting businesses and citizens. It is delivering the
Government's Plan for Change with investment and reform to
deliver growth; putting more money in people's pockets and
helping to rebuild Britain; and giving business and investors the
certainty, simplicity, and stability they need. This will ensure
that the UK is a key destination for investment; with a
regulatory regime that is fit for purpose and achieves value for
money for the taxpayer. In particular I have asked them to focus
on:
- Extending their commitment to tackling money laundering
working closely with partners to increase our ability to identify
and disrupt illegal activity
- Work towards implementing the insolvency regulatory reforms
outlined in the response to the “Future of Insolvency Regulation”
consultation
- Launching the new case management system INSSight enabling
them to deliver better services more effectively and efficiently,
and
- Delivering cost reductions to improve the organisation's
efficiency and help deliver value for money.
The Insolvency Service's Annual Plan for 2025-26 is published in
full on Gov.uk.
