An independent review of Scotland’s statutory debt solutions has today published its final report, setting out a comprehensive package of measures to ensure the system remains effective, accessible and works well in a modern economy.

The publication concludes the latest phase of a wide-ranging, long-term review commissioned by Scottish Ministers to determine whether the current system continues to meet Scotland’s needs.

Stage Three Review - Final Report presents 52 recommendations for consideration by Scottish Government. A formal response will be issued after the Parliamentary Election.

Welcoming the findings, Minister for Public Finance Ivan McKee said:

“It is vital that we continue to build on Scotland’s statutory debt solutions and ensure they work well in a modern economy. I would like to thank Yvonne, Craig and Colin for undertaking this review and for their time and dedication — the depth of their work is clear.

The Scottish Government will now take time to consider their recommendations, which I have no doubt will help improve the debt landscape for the people of Scotland.”

The review team said:

“The people of Scotland deserve the most progressive insolvency regime in the world and we believe our recommendations, if fully implemented, put the country firmly on the path towards that.

The improvements we recommend will have benefits for people in debt, creditors, practitioners and broader society. We are hugely grateful for the time, resource and support from individuals and organisations across the insolvency landscape in informing our review. We are especially thankful to the people in debt who were willing to share their personal experiences with us, which have both shaped our recommendations but also served as a reminder of the importance of a well-functioning regime.

The richness of the insight and evidence we have been able to build our findings on, as well as the expertise and passion of those working in and around the sector, give us a high degree of confidence that the next steps coming out of the review will be relevant, impactful and make a positive difference.”

Supporting documents

The final report is published alongside the Stage Three Review - Feedback and Recommendations report. This document summarises the responses to the March 2025 consultation and explains the rationale for each recommendation

Two nationally representative surveys were also carried out by ScotPulse on behalf of the review team:

• Debt and Insolvency Research Survey – people with personal debts
• Self-Employed Research Survey – self-employed small business owners.

Background

In September 2023, Yvonne MacDermid OBE was appointed by Scottish Ministers to lead the Stage Three Review. The review formally launched in March 2024, with Craig Simmons and Colin Kinloch also joining the review team.

The review was established as a longer-term strategic examination of Scotland’s statutory debt solutions.

Further information on the Stage Three Review process is available in the Review of Statutory Debt Solutions section of our website.

Contact

If you have any questions, please contact Yvonne MacDermid. Alternatively, you can contact AiB Policy team.