Meeting of the Parliament 06 February 2024
I recognise the sensitivity of the public register, and there will be further debate and discussion on that.
Other concerns exist that the mental health moratorium might put additional pressures on an already stretched money advice sector. Although it is not anticipated that an enormous volume of debtors will avail themselves of the facility, there will be a need for practitioners across the entire debt advice sector to receive appropriate training and education to ensure that the best possible advice is given, and there may well be a cost attached to that.
To add to the complexity of the area, many individuals who are subject to a compulsory treatment order have appointed an individual as their attorney to handle their affairs when necessary. Is it, then, necessary to restrict that service to those who have mental capacity to consent and those who have legally recognised representatives? What happens to people in debt who do not have that capacity?
I will briefly run through one or two other points that arise from the bill.
The minimum asset process is a way to bankruptcy for individual debtors with a low income and few assets. Currently, one can apply for such a bankruptcy only every 10 years. The suggestion is that the period be reduced to five years, but there are mixed views on that. Some stakeholders support it and some reject it. Far more work needs to be done to ensure that the appropriate period is fixed.
I see that I am running out of time, Presiding Officer, so I will run ahead.
I look forward to seeing further information on the detail of the bill in the further stages as it goes forward. In the meantime, the bill’s intentions are beneficial to creditors who suffer from serious mental health problems, and they offer a fair option in difficult circumstances for creditors and debtors.
I support the general principles of the bill.
15:20