This blog post sets out R3’s response to the APPG’s report and recommendations – including those that could help to make a positive difference to the current framework – while also highlighting some of the areas where we feel the report doesn’t get it right.
The final three weeks before the start of the parliamentary summer recess were busy ones for R3’s Press, Policy and Public Affairs Team, with a range of consultations, parliamentary appearances and briefings to deliver and prepare for – as well as continuing to give the profession a voice on key issues in the media…
As MPs depart Westminster for the summer parliamentary recess, we are taking stock of an important piece of legislation for the insolvency and restructuring profession, and its progress so far through parliament.
As we reach the mid-point of 2021, the public affairs agenda continues to be busy, with the Government making a number of insolvency and restructuring-related policy announcements, deadlines for consultations and calls for evidence passing, and debates in parliament continuing.
The insolvency and restructuring profession plays a fundamental role in the UK economy. Research we published earlier this year showed that, in 2019, the profession rescued 7,200 businesses, returning an estimated £1.82 billion to creditors and saving an estimated 297,000 jobs in the process. It has also helped over 60,000 businesses and 144,000 people by providing qualified advice about the insolvency and restructuring options available to them.
After a year like no other, and with considerable uncertainty remaining about what will happen in coming months, directors and business owners could be forgiven for being unsure about the best path forwards.
James Jeffreys
Stuart McBride
Giorgio Buttironi
