General review of Scotland's debt solutions

In September 2019, the Minister for Business, Fair Work and Skills Jamie Hepburn pledged to take forward a wide-ranging review of Scotland’s debt solutions.

There has been a significant amount of consultation and scrutiny of the debt solutions operating in Scotland which will help to lay the foundation for this wider review. This section brings together the information gathered so far and invites views on both the arrangements for conducting the review and the key issues that should be considered as part of that. 
 

Public Consulation - 2015 Bankrupty Reforms

Economy, Energy and Fair Work Committee - Evidence sessions and Protected Trust Deeds inquiry

Ministerial Working Group on Statutory Debt Solutions

Stakeholder discussions - Structure and remit of the review of Scotland's statory debt solutons

 


Public Consultation – 2015 Bankruptcy Reforms

During late 2019 and early 2020, The Scottish Government conducted a public consultation into the progress of significant reforms introduced in April 2015 - Review of Bankruptcy and Debt Advice (Scotland) Act 2014. This section links to the consultation and the summary of responses received.

Bankruptcy and Debt Advice Review - Summary of the consultation responses - October 2020

 


Economy, Energy and Fair Work Committee – Evidence Sessions and Protected Trust Deeds inquiry

The Economy, Energy and fair Work Committee has taken evidence on a range of issues associated with debt solutions during the current Parliamentary Session.  This has covered scrutiny of legislation laid on the Common Financial Tool used to assess contribution levels within statutory debt solutions, significant reforms introduced to the Debt Arrangement Scheme that were introduced on 4 November 2020 and the Committee’s own inquiry into the operation of Protected Trust Deeds. 

Full information can be found on the links below:

The Common Financial Tool (Scotland) Regulations 2018

The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019

Protected Trust Deeds Inquiry - Call for evidence 22 November 2019 - Report 21 May 2020 

Letter from Minister for Business, Fair Work and Skills - Wider review of debt solutions - October 2020

 


Ministerial Working Group on Statutory Debt Solutions

The Minister for Business, Fair Work and Skills convened a working group on Scottish statutory debt solutions in December 2018.  This was initially to consider issues associated with the future of the Common Financial Tool adopted in Scotland, but has since considered much broader subject areas.  The working group will discuss issues and provide advice to the Minister on how the wider review of solutions should be taken forward and the key issues that remit for the review.  

The next meeting will be held on 26 October 2020. A paper has been prepared setting out some discussion provoking thoughts and observations on the current landscape, including the impact of the COVID-19 pandemic.  

Minutes of previous meetings can be found below:

Accountant in Bankruptcy – Discussion Paper – October 2020

Minutes of stakeholder meeting on Scottish statutory debt solutions - December 2019

Minutes of stakeholder meeting on Scottish statutory debt solutions - September 2019

Minutes of stakeholder meeting on Scottish statutory debt solutions - May 2019

Minutes of stakeholder meeting on Scottish statutory debt solutions - December 2018

 


Summary of Stakeholder discussions

During the early part of 2020, prior to the restrictions imposed by the COVID-19 pandemic, stakeholder meetings were convened to obtain views on the structure and remit of the wider review of Scottish statutory debt solutions.  Included below are the notes from each of the meetings along with a collated summary note.

General review of debt solutions - summary of stakeholder meetings

Note of Meeting – Aberdeen – 17 March 2020

Note of Meeting  - Glasgow – 13 March 2020

Note of Meeting – Glasgow – 12 March 2020

Note of Meeting – Edinburgh – 6 March 2020

 


We would be interested to hear your views on any aspect of the debt solution landscape in Scotland – please contact us at policy@aib.gov.uk