Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government, in the light of the Department of Health's consultation on changes in how healthcare education for nurses is funded, what are the next steps in the legislative process.
Answered by Baroness Williams of Trafford - Shadow Chief Whip (Lords)
I refer the noble Baroness to the answer I gave Lord Beecham on 20 July 2017 (HL801, HL802, HL803, HL804).
Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government what assessment they have made of the impact of the European Commission's Recommendation in 2014 on a new approach to business failure and insolvency on the UK's insolvency regime.
Answered by Baroness Neville-Rolfe - Shadow Minister (Treasury)
The UK’s flexible and effective restructuring and insolvency regime is very much in keeping with the general themes of the EU Recommendation. Following the European Commission’s 2014 Recommendation, the Government conducted a call for evidence seeking the views of stakeholders and submitted a response to the Commission’s survey on how Member States comply with the Recommendation. The Government published the UK’s response in August 2015. This can be accessed here: https://www.gov.uk/government/consultations/european-commission-recommendation-on-business-failure-and-insolvency-call-for-evidence
Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government what assessment they have made of which of the provisions of the European Commission's 2014 Recommendation on a new approach to business failure and insolvency would (1) benefit, and (2) harm, the UK's insolvency regime if introduced.
Answered by Baroness Neville-Rolfe - Shadow Minister (Treasury)
The UK’s flexible and effective restructuring and insolvency regime is very much in keeping with the general themes of the EU Recommendation. Following the European Commission’s 2014 Recommendation, the Government conducted a call for evidence seeking the views of stakeholders and submitted a response to the Commission’s survey on how Member States comply with the Recommendation. The Government published the UK’s response in August 2015. This can be accessed here: https://www.gov.uk/government/consultations/european-commission-recommendation-on-business-failure-and-insolvency-call-for-evidence
Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government what assessment they have made of the main criteria for judging whether an insolvency regime is successful.
Answered by Baroness Neville-Rolfe - Shadow Minister (Treasury)
It is not simple to compare different insolvency regimes. The World Bank methodology for ‘Resolving Insolvency’ uses principally an assessment of speed and amount of returns to creditors but also has introduced more subjective tests of the strength of the framework. In the World Bank’s 2016 Doing Business Report, the UK continues to be 7th in the world for returns to creditors, and is quicker and costs less than the US, Germany and France, but does somewhat less well on the subjective factors, which may understate the strengths of our regime. We keep the UK’s insolvency regime under review to ensure it remains at the forefront of best practice and that possible new features are properly considered.
Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government what assessment they have made of the World Bank's methodology for producing its Resolving Insolvency rankings.
Answered by Baroness Neville-Rolfe - Shadow Minister (Treasury)
It is not simple to compare different insolvency regimes. The World Bank methodology for ‘Resolving Insolvency’ uses principally an assessment of speed and amount of returns to creditors but also has introduced more subjective tests of the strength of the framework. In the World Bank’s 2016 Doing Business Report, the UK continues to be 7th in the world for returns to creditors, and is quicker and costs less than the US, Germany and France, but does somewhat less well on the subjective factors, which may understate the strengths of our regime. We keep the UK’s insolvency regime under review to ensure it remains at the forefront of best practice and that possible new features are properly considered.
Asked by: Lord Harrison (Labour - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty’s Government what work they are doing to promote the UK's insolvency regime to the European Commission as it develops its plans for an insolvency directive.
Answered by Baroness Neville-Rolfe - Shadow Minister (Treasury)
My officials have regular discussions with Commission officials on this matter. Insolvency experts have also had such discussions to ensure they are aware of the features and strengths of our insolvency regime. The Commission has announced its intention to publish a legislative initiative on corporate insolvency in late 2016. This is to be preceded by a consultation to be published this spring. The Government will be responding to the consultation.