Legislation to reduce the bankruptcy period will be brought to cabinet next week.

Enda Kenny's confirmed that a bill to reduce the period, which currently stands at three years, will be tabled by the Minister for Justice next week.

It's likely that the bill will reduce the overall bankruptcy period to 12 months, in line with the period in England and Wales. This was suggested in a report published by the Joint Oireachtas Committee on Justice, Defence and Equality in July.

Before December 2013, the period was 12 years, 

Reducing the bankruptcy period has emerged as a key Labour priority in recent months.