Press, Policy and Public Affairs

Parliamentary and press update

November 2018

Parliamentary President’s Lunch
 
R3 was again joined by a number of senior cross party parliamentarians at the annual President’s Lunch event in Westminster, with attendees including Rt Hon Nicky Morgan MP, Chair of the Treasury Select Committee, Bill Esterson MP, Shadow Insolvency Minister, and Lord Cromwell, Vice-Chair of the Fair Business Banking APPG.
 
Many parliamentarians raised questions about the Johnston Press case which had developed over the preceding few days, illustrating the heightened awareness of insolvency issues in parliament. Also of interest to guests were the Government’s corporate insolvency reforms, Brexit, and the Chancellor’s recent decision to partially restore HMRC’s status as a preferential creditor. MPs and Peers were also keen to discuss the state of the UK economy from the profession’s perspective. Guests were also provided with a copy of R3’s new guide to the role and value of insolvency practitioners, here, which sets out how important the profession and its framework is to the wider economy.
 
R3 will be following up with parliamentarians on these issues over the coming weeks and months.
 
Scottish Parliamentary engagement
 
November also saw R3 meet with six senior MSPs, including Murdo Fraser MSP, the Conservatives’ shadow finance spokesperson, Gordon Lindhurst MSP, Chair of the Scottish Parliament’s Economy, Energy and Fair Work Committee, and the leader of the Scottish Lib Dems, Willie Rennie MSP.
 
The meetings provided an opportunity to brief the parliamentarians about the work of the profession in Scotland and to highlight the importance of an effective insolvency and restructuring framework across the UK. R3 Scotland Chair Tim Cooper, Scottish Technical Committee Chair Eileen Blackburn and R3 Council member Rachel Grant were also able to answer a number of questions relating to the devolved issue of personal insolvency.
 
Tim and Eileen are due to meet the new Scottish Insolvency Minister, Jamie Hepburn MSP, in January.
 
What’s coming up?
 
R3 will be engaging with the Government over the coming weeks on a number of issues: continuing to discuss with the Insolvency Service our views on the corporate insolvency and corporate governance reform proposals; working with HMRC to challenge and highlight the potential impact of the Government’s decision to partially restore its preferential creditor status; and, reaching out to HM Treasury to respond to the further consultation on the Breathing Space proposal for indebted individuals (along with the Government’s plans for a Statutory Debt Repayment mechanism).
 
R3 Thinks
 
Our latest R3 Thinks posts include pieces on Talk Money Week 2018, the Government’s recent Budget Statement, and an update on the corporate governance and insolvency reform proposals.

Contacts

R3’s policy and research team can be contacted using the details below:

Georgina Waite
Head of Public Affairs
T: 020 7566 4214
M: 07900 932 529
F: 020 7566 4224
E: 
James Jeffreys
Public Affairs & Policy Officer
T: 020 7566 4220
F: 020 7566 4224
E: