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Share Ownership
Mrs. Beckett: To ask the Chancellor of the Exchequer what percentage of the adult population owned one or more shares (a) in the latest year for which figures are available and (b) in each year since 1970. [4028]
Mrs. Angela Knight [holding answer 5 December 1995]: The information sought is not available for the years 1970-78 or 1980-86. Data for the remaining years are set out in the table:
| Year | Percentage of adults owning shares |
|---|---|
| 1979 | 7 |
| 1987 | 19 |
| 1988 | 20 |
| 1989 | 20 |
| 1990 | 24 |
| 1991 | 25 |
| 1992 | 22 |
| 1993 | 22 |
Landfill Tax
Mr. Stewart: To ask the Chancellor of the Exchequer (1) what analysis he has made of the effects of the proposed landfill tax on the house building industry in Scotland; and if he will make a statement; [3931]
(2) what analysis he has made of the effect of the proposed landfill tax on the construction industry; and if he will make a statement; [3930]
(3) what analysis he has made of the effect of the proposed landfill tax on the house building industry; and if he will make a statement. [3932]
Mr. Heathcoat-Amory: In developing proposals for a landfill tax, the Government have had regard to the effects of the tax upon all sectors of the economy. My right hon. and learned Friend the Chancellor of the Exchequer indicated that the tax should not impose extra costs on business overall, and that the revenue raised will be used to make compensatory reductions in employers' national insurance contributions. The main rate of employer NICs
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will be reduced by 0.2 per cent. in 1997-98. Moreover, businesses that are successful in reducing the amount of waste sent for landfill disposal by making alternative waste management arrangements may reduce their overall costs of landfill.
Single-parent Families
Ms Harman: To ask the Chancellor of the Exchequer how many children have been in single-parent families where the parent is unemployed in each of the last five years. [4109]
Mrs. Angela Knight [holding answer 5 December 1995]: The following information is available from the "Labour Force Survey".
| Quarter | Number of children aged 15 or under with single parent who is ILO unemployed |
|---|---|
| Winter 1993-94 | 246,000 |
| Winter 1994-95 | 231,000 |
European Single Currency
Mr. Gill: To ask the Chancellor of the Exchequer what estimate he has made of the time needed to introduce a single currency after a decision has been made to introduce it. [2770]
Mrs. Angela Knight: The European Monetary Institute, in its report on the changeover to the single currency published on 14 November 1995, considered that a period of up to three years would be required to introduce single currency notes and coins after the start of the third stage of economic and monetary union. It considered that the period between the decision to move to a single currency and the start of the third stage would need to be about one year in length. The Government believe that these are probably reasonable estimates of the lengths of time required, bearing in mind the necessary legal and practical steps, although the actual times would depend on many factors.
Under protocol 11 annexed to the EC treaty, the United Kingdom shall not be obliged or committed to move to the third stage of Economic and monetary union without a separate decision to do so by the Government and Parliament. We will agree to take part in a single currency only if it is in our national interest to do so, given the circumstances at the time.
Mr. Gill:
To ask the Chancellor of the Exchequer what estimate he has made of the cost to the United Kingdom of adopting the single currency. [2769]
Mrs. Knight:
If the United Kingdom participates in the third stage of economic and monetary union, there will be transitional costs to business and public authorities, associated with the changeover to the single currency.
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These potential costs would be one of the factors that would need to be taken into account, at the appropriate time, when the Government make their assessment of whether it is in the United Kingdom's interest to join a move to the third stage of economic and monetary union.
Under protocol 11 annexed to the EC treaty, the United Kingdom shall not be obliged or committed to move to the third stage of Economic and monetary union without a separate decision to do so by the Government and Parliament. We will agree to take part in a single currency only if it is in our national interest to do so, given the circumstances at the time.
Mr. Peter Bottomley:
To ask the Chancellor of the Exchequer if he will estimate the short-term cost of reducing tax on city diesel by 2p a litre. [3730]
Mr. Heathcoat-Amory:
The estimates of the revenue effects of a 2p tax reduction for city diesel will be extremely sensitive to assumptions about current market shares, other low-sulphur products, and how quickly supplies of city diesel could respond to increased demand.
Mr. Austin Mitchell:
To ask the Chancellor of the Exchequer if he will give the outstanding Ways and Means advances from the Bank of England to the Government at the end of each financial year since 1978. [4327]
Mrs. Angela Knight:
The outstanding Ways and Means advances from the Bank of England to the Government at the end of each financial year since 1978 is shown in the table.
| Date | Balance outstanding (£000s) |
|---|---|
| 31 March 1978 | 3,487,280 |
| 31 March 1979 | 5,435,540 |
| 31 March 1980 | 3,026,435 |
| 31 March 1981 | 3,450,705 |
| 31 March 1982 | 908,040 |
| 31 March 1983 | 1,983,009 |
| 31 March 1984 | Nil |
| 31 March 1985 | Nil |
| 31 March 1986 | Nil |
| 31 March 1987 | 2,707,405 |
| 31 March 1988 | 4,638,116 |
| 31 March 1989 | 6,255,987 |
| 30 March 1990 | 5,962,854 |
| 28 March 1991 | 6,918,245 |
| 31 March 1992 | 7,187,231 |
| 31 March 1993 | 3,062,154 |
| 31 March 1994 | 6,750,812 |
| 31 March 1995 | 15,904,279 |
The increase in 1995 follows a change in the funding rule in 1994 to include gilt sales to the banking sector, and a one-off corrective adjustment.
Monetary Aggregates
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer if he will give the velocity of circulation and
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the increases or decreases in (a) M3, (b) M4, (c) M0 and (d) the rate of inflation for each year since 1975. [4331]
Mrs. Angela Knight: The velocity of circulation of the monetary aggregate is calculated as a ratio--GDP divided by the stock of the relevant monetary aggregate.
M3 is no longer compiled as a monetary aggregate. Stock and velocity of circulation figures for M0 and M4 are shown in table 6.2 of the CSO monthly publication Economic Trends. Data on the RPI and the underlying rate of inflation--RPI excluding mortgage interest payments--are shown on table 3.1 in Economic Trends. Economic Trends is available from the House of Commons Library.
National Grid
Mr. Burden: To ask the Chancellor of the Exchequer what is his estimate of the amount of the expected rebate to domestic consumers arising from the sale of the national grid which will be accounted for by reduced VAT (a) per customer and (b) in total. [3389]
Mr. Heathcoat-Amory [holding answer 4 December 1995]: Eligible customers will each receive a net rebate of £50.56 from the regional electricity companies and as a consequence the amount of VAT on their bills will be reduced by £4.04. For the comparatively small number of customers who use pre-payment meters or tokens a VAT-inclusive refund of £54.60 will be made. The total reduction in VAT revenue resulting from the rebates will be approximately £87 million.
Personal Tax Allowances
Mr. Kirkwood: To ask the Chancellor of the Exchequer (1) if he will make it his policy to allow an additional personal tax allowance to a woman whose husband is permanently disabled and who has a dependent child; [3621]
(2) if he will make a statement on the additional personal tax allowance currently available to a man whose wife is disabled and who has a dependent child indicating the considerations underlying the reasons why the same facility is not allowed to a woman in the same circumstances. [3622]
Mr. Jack [holding answer 4 December 1995]: The additional personal allowance for husbands with totally incapacitated wives dates from a time when social security provision for the disabled was much less comprehensive than it is now. The Government believe that, in general, it is much better to help both men and women with disabled partners through the social security system than through tax reliefs, and a generous range of social security benefits are available today.
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