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<p>The Government carefully considered the case for reform prior to announcing this
change last year, and it is the Government’s view that taxpayers can reasonably expect
that when they have successfully paid their taxes, these go to fund public services
as intended.</p><p> </p><p>This measure represents a proportionate approach that balances
the interests of taxpayers, the Exchequer, and other creditors.</p><p> </p><p>The
Government expects the impact on the sustainability of Pension Protection Fund (PPF)
to be marginal. This reform will not lead to a significant change in recoveries to
the PPF compared to current returns.</p><p> </p><p>The Government does not expect
this reform to affect significantly SMEs’ access to finance or corporate insolvencies,
and in line with the Government’s commitment to open and consultative policymaking
is engaging with a wide variety of stakeholders to ensure policy changes are well
informed and based upon the best available evidence.</p>
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