R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress.
- The abolition of plans to make HMRC a priority creditor in insolvencies
- The introduction of the proposed 2016 corporate insolvency reforms
- Ensuring that any changes made to the current insolvency and restructuring framework are evidence-based and outcome-focused
- The progression of plans to reform and strengthen the powers of Companies House
- Amending plans for a proposed ‘Breathing Space’ for indebted individuals so that sole traders with business debts above the VAT threshold benefit from the policy
Eleanor Temple, chair of R3 in Yorkshire and barrister at Kings Chambers in Leeds, says: “Quite understandably, the Brexit debate has dominated the political agenda since 2016, but this has meant a number of key policy proposals that would have helped improve the insolvency and restructuring framework have been pushed into the background.
“At the same time, policy proposals which would make things worse haven’t had the scrutiny they need.
“I hope whoever forms the next Government takes heed of the recommendations in our manifesto and gives insolvency and restructuring issues the legislative time and attention they deserve, so that the profession can rescue more businesses, save more jobs and help more people back onto stable financial ground.”
To download a copy of R3’s manifesto, please visit the R3 website.
"I hope whoever forms the next Government takes heed of the recommendations in our manifesto and gives insolvency and restructuring issues the legislative time and attention they deserve."
DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.