I have set performance targets for the Insolvency Service for the financial year 2021-22. 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 putting customer satisfaction and real-life impacts at the heart of its services, and a new approach has been taken to measuring the quality of customer contact.
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:
Make bankruptcy orders sought by individuals within 2 working days
95% or greater
Determine debt relief order applications within 48 hours
95% or greater
Average time taken to process redundancy payment claims
14 days or less
Issue reports to creditors within fifteen days of interviewing
92% or greater
Deliver against the agency apprentice target for 2021-22 as a percentage of new staff
2.3% or more
Pay supplier invoices within 5 working days
Pay supplier invoices within 30 calendar days
Customer satisfaction score
84% or greater
The Insolvency Service’s Annual Plan for 2021-22 is published in full on Gov.uk.
 Or a decision that no interview is required
This statement has also been made in the House of Commons