The strategy sets
out how the Insolvency Service will develop its services
over the next 5 years to strengthen the UK’s insolvency
regime and contribute to the UK being the best place in the
world to start and grow a business.
Dean Beale, Chief Executive of the Insolvency Service,
said:
The Insolvency Service has an important role to play in
supporting a growing economy by tackling financial
wrongdoing, supporting those in financial difficulty and
ensuring the insolvency regime delivers the best outcomes
possible for those impacted by financial failure.
It is important that we continue to evolve, innovate and
keep pace with the changing economic landscape.
Underpinning everything we do is our commitment to
delivering excellent standards of service to the
thousands of businesses and citizens we work with each
year.
The seven strategic themes set out in the strategy set out
how we will:
Sharpen
-
our operating focus in Official Receiver Services
-
our financial model to ensure we are able to provide
fully funded, cost effective services
Shape
-
how we work by modernising our technology and
infrastructure
-
the agency as a great place to work
-
a new approach, through education and guidance, to
support directors to help prevent insolvency and to
learn from the experience of a business failure
Work has already begun on delivering key elements within
the strategy. The Insolvency Service played a key role in
the Government’s response to the COVID-19 pandemic,
including the introduction of temporary and permanent
measures to support businesses in the Corporate Insolvency
and Governance Act (2020), most recently with targeted measures to
support commercial tenants and small businesses.
The Insolvency Service is a key delivery partner for the
Breathing Space
scheme, which gives those facing financial difficulties
breathing space to receive debt advice or mental health
crisis treatment, without pressure from creditors or
mounting debt.
Our 2021/22 Annual
Plan sets out further detail on how we will progress
our strategic goals in this financial year.
