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Interest Rates
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer if he will give the average real rate of interest for each year since 1975. [4330]
Mrs. Angela Knight: Real interest rates can be calculated in a number of ways, depending on the choice of nominal interest rate and the measure of inflation. Table 47 of "Economic Trends" annual supplement, Central Statistical Office, gives a number of possible
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measures of the nominal interest rate. Figures for various measures of inflation can be calculated from data in the same CSO publication.
Import Penetration
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer what is the figure for import penetration for all the manufactured items covered by table 15.10 of the "Monthly Digest of Statistics". [4749]
Mrs. Angela Knight: The 1994 information is being prepared for publication and will be included in the December issue of the "Monthly Digest of Statistics".
Mr. Mitchell: To ask the Chancellor of the Exchequer how the Government monitor imports of manufactures; what is the target for publication of figures for import penetration in the "Monthly Digest of Statistics"; what has been recent performance against target; and if he will make a statement. [4558]
Mrs. Knight [holding answer 7 December 1995]: The Government use a range of figures to monitor the imports of manufactures. For example, aggregate figures on the imports of manufactures are published each month by the Central Statistical Office in the first releases on the balance of UK visible trade. More detailed statistics on trade with non-EC countries are published monthly in Business Monitor MM20, with corresponding statistics on trade with EC countries published quarterly in Business Monitor MQ20, both of which are published by HM Customs and Excise.
The CSO aims to make all data available in the public domain as soon as possible. The import penetration figures are published in the "Monthly Digest of Statistics" on this basis. The 1994 data will be published in the December issue; this issue will include a number of presentational improvements since the previous publication.
Home Income Plans
Sir Andrew Bowden: To ask the Chancellor of the Exchequer what is the current tax relief on mortgage interest for home income plans. [4956]
Mr. Jack: Tax relief for interest paid by someone over 65 who takes out a loan, secured on his or her home, to buy a life annuity--often called a home income plan--is given at the basic rate of income tax. This is currently 25 per cent.
VAT (Energy Efficiency and Supply)
Mr. Llew Smith: To ask the Chancellor of the Exchequer what are the reasons for imposing different rates of VAT on energy efficiency and energy supply. [5013]
Mr. Heathcoat-Amory: Any extension of the existing unique reduced rate of VAT on energy supply would add to the burden on business in the administration and collection of VAT. Moreover, adjustment to the VAT
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structure by way of a reduced rate for certain goods would be an inefficient means of addressing an objective such as energy efficiency.
Building Societies Acts
Mr. Darling: To ask the Chancellor of the Exchequer when he expects to publish the draft legislation on the reform of the Building Societies Acts; how long the consultative period will be; and if he will make a statement. [4846]
Mrs. Angela Knight: The Government intend to publish a draft Building Societies Bill for three months' consultation early in the new year, with the aim of introducing new legislation during the life of this Parliament. The draft Bill will amend the Building Societies Act 1986.
Stamp Duty (Houses)
Mr. David Martin: To ask the Chancellor of the Exchequer what was the yield in the last available financial year from stamp duty in respect of house sale and purchase. [4962]
Mrs. Angela Knight: The yield from stamp duty on residential property in 1994-95 is estimated at £520 million.
Homeworking
Mr. Gordon Prentice: To ask the Chancellor of the Exchequer what estimates he has made of the amount of homeworking in Lancashire.
Mrs. Angela Knight: This information is not at present readily available. All the information collected in the labour force survey will be released at county level following the publication of the full summer 1995 results in December 1995. However, the LFS includes questions about homeworking only in the spring and autumn quarters, so the information requested will not be available until the autumn 1995 results are published in March 1996.
External Trade Statistics
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer what plans he has to restore the annual supplement to the "Monthly Review of External Trade Statistics". [4559]
Mrs. Angela Knight [holding answer 7 December 1995]: The "Monthly Review of External Trade Statistics" is the responsibility of the Central Statistical Office which has no plans to produce annual supplements to this publication.
Residential Care Costs
Mr. Milburn: To ask the Chancellor of the Exchequer what estimate he has made of the number of elderly people who will not now sell their homes to pay for long-term care. [4858]
Mr. Waldegrave [holding answer 8 December 1995]: Clearly the measures that my right hon. and learned
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Friend the Chancellor of the Exchequer announced in the Budget will benefit a large number of people. Raising to £16,000 the level of assets below which people can get some help for long-term care, and increasing to £10,000 the level below which they make no contribution at all, will help all those of modest means who need long-term care.
ENVIRONMENT
OECD Report
Mr. Jim Cunningham: To ask the Secretary of Stae for the Environment what assessment he has made of the 1993 OECD report on environmental policies and competitiveness. [1154]
Mr. Clappison: I have noted the OECD report with interest. It is a balanced report which examines a number of important issues. We remain committed to promoting the use of economic instruments to achieve our environmental goals, where this is appropriate. In the case of the landfill tax we have used the revenues raised by an environmental tax to reduce other distortionary taxes on employment. However, in considering the scope for new environmental taxes it is important to judge each case on its merits.
Process Guidance Notes
Mr. Thomason: To ask the Secretary of State for the Environment what account was taken of the effects on environmental technology manufacturers, of the postponement of the upgrading deadlines in process guidance notes PG 6/7(91), PG 6/8(91), PG 6/13(91), PG 6/14(91), PG 6/15(91), PG 6/16(92), PG 6/18(92), PG 6/22(92), PG 6/28(92) and PG 6/32(92). [3107]
Mr. Robert B. Jones [holding answer 29 November 1995]: The deferral of the upgrading deadlines for all the listed process guidance notes will allow time for a thorough review; the Department was conscious of potential effects on environment technology manufactures.
Mr. Thomason: To ask the Secretary of State for the Enviornment what independent assessment he received of the cost estimates provided to his Department by the industry sectors directly affected by process guidance notes PG 6/7 (91), PG 6/8 (91), PG 6/13 (91), PG 6/14 (91), PG 6/15 (91), PG 6/16 (92), PG 6/18 (92), PG 6/22 (92), PG 6/28 (92) and PG 6/32 (92); and by whom such assessments were made. [3124]
Mr. Jones: All the listed process guidance notes, published in 1991-92, were drafted by environmental health officers seconded to the Department who took account of all information provided by industry consultees. The notes are now being reviewed and any cost estimates received will be carefully assessed. In particular, account will be taken of two studies being undertaken by consultants for my Department and for the Department of Trade and Industry into the costs of reducing emissions of volatile organic compounds from solvent-using industrial sectors.
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Housing Associations (Tax Changes)
Mr. Raynsford: To ask the Secretary of State for the Enviornment (1) what discussions he has held with (a) local authorities considering a large-scale voluntary transfer of housing and (b) non-charitable housing associations set up as a consequence of a large-scale voluntary transfer proposal about the potential impact on their business plans of his proposal to withdraw tax relief grant in April 1997; [4280]
(2) what consideration he gave to the impact on housing association rents of his proposal to withdraw tax relief grant from non-charitable housing associations; [4238]
(3) what assumptions he has made about the number of non-charitable housing associations which may alter their constitution and seek charitable status as a consequence of his proposal to withdraw tax relief grant in April 1997; [4279]
(4) what consultation he has undertaken with non-charitable housing associations, their tenants, their lenders and other interested parties before deciding to discontinue their entitlement to tax relief grant; [4277]
(5) what discussions he has held with large-scale voluntary transfer housing associations about the potential impact on their business plans of the proposed withdrawal of tax relief grant in April 1997. [4281]
Mr. Curry: In deciding that tax relief grant for non-charitable housing associations should be discontinued from April 1997, subject to parliamentary approval of the necessary legislation, the Government were aware that withdrawal would in many cases necessitate some adjustment to their business plans and finances. The Government none the less took the view that it was not appropriate for non-charitable associations to continue to have this financial benefit in the context of the Government's proposals to allow other bodies to compete for funds to support the provision of social housing.
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