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Unexploded Bombs
Mr. Morgan: To ask the Secretary of State for Defence what representations he received in (a) 1994-95 and (b) 1995-96 in respect of unexploded bombs in the Bristol channel obstructing civil engineering operations. [14271]
Mr. Soames: My Department has received no representations on this matter.
HMS Intrepid
Mr. David Clark: To ask the Secretary of State for Defence how much has been spent in maintaining HMS Intrepid in her current condition; and what time period would be required to bring the vessel into operational capability in an emergency. [14281]
Mr. Arbuthnot: HMS Intrepid is currently undergoing a maintenance period, the total estimated cost of which is £8 million. Operational readiness states of Her Majesty's ships are classified.
HMS Fearless
Dr. David Clark: To ask the Secretary of State for Defence how much money has been spent on HMS Fearless to bring her into operational capability; what exercises she will take part in over the next year; and how long she will remain operational. [14280]
Mr. Soames: HMS Fearless is currently undergoing a routine docking and essential defect maintenance period at Portsmouth to ensure the continuing satisfactory operation of the ship. The total estimated cost of this work is £32 million.
After work-up and trials following her present maintenance period, HMS Fearless is scheduled to take part in Exercise Purple Star off the US coast in April, and then in other amphibious exercises in the Caribbean until the end of July. In October and November, she is planned to participate in exercises in the northern fleet exercise areas. She is also scheduled to take part in a series of exercises in the middle and far east during 1997.
We are currently negotiating with Vickers Shipbuilding and Engineering Ltd over the replacement of HMS Fearless and her sister ship HMS Intrepid. Assuming a satisfactory outcome to these negotiations, we would envisage entry into service around the turn of the century. HMS Fearless is planned to remain operational until then.
8 Feb 1996 : Column: 361
Dr. David Clark:
To ask the Secretary of State for Defence if he will make a statement concerning the NATO air command and control system program. [14273]
Mr. Arbuthnot:
The ACCS programme will provide NATO with a fully integrated air command and control system covering the NATO Europe area and including a deployable capability. The procurement specification for the first phase of the system is being prepared. British industry has been fully informed of progress with the programme and will be invited to bid for a share of the work.
12. Sir Roger Moate:
To ask the Chancellor of the Exchequer what recent discussions he has had with the Governor of the Bank of England regarding a single currency. [12647]
Mr. Kenneth Clarke:
I meet the Governor regularly to discuss a range of economic and financial issues.
15. Mr. John Greenway:
To ask the Chancellor of the Exchequer what is his estimate of the total value to holders of deposit accounts of the proposed 20p tax rate. [12650]
Mr. Jack:
The bulk of the £400 million full year cost of reducing the tax rate on savings is in respect of interest from savings accounts.
16. Mr. Heppell:
To ask the Chancellor of the Exchequer what plans he has to reduce the rate of VAT on sanitary products. [12651]
17. Mr. Canavan:
To ask the Chancellor of the Exchequer what is his latest estimate of the public sector borrowing requirement. [12653]
Mr. Waldegrave:
The 1995 Budget forecast projected a public sector borrowing requirement of £29 billion in 1995-96.
18. Sir Michael Neubert:
To ask the Chancellor of the Exchequer what is his latest annual rate of inflation. [12654]
Mrs. Angela Knight:
Underlying inflation, as measured by the retail prices index excluding mortgage interest payments, was 3 per cent. in December 1995. Inflation has now been below 4 per cent. for 39 months, the longest such period for almost 50 years.
8 Feb 1996 : Column: 362
19. Mr. Robert Ainsworth:
To ask the Chancellor of the Exchequer what are the quarterly figures for real personal disposable income for the first three quarters of 1995. [12655]
Mrs. Angela Knight:
Latest figures show that the level of real personal disposable income in the first three quarters of 1995 was 2 per cent. higher than in the first three quarters of 1994. The precise figures are published by the Central Statistical Office in table A.9 of "UK Economic Accounts", No. 12, which is available in the Library of the House.
20. Mr. Janner:
To ask the Chancellor of the Exchequer how many representations he has received on his latest Budget. [12656]
Mr. Jack:
My right hon. and learned Friend the Chancellor has received a number of representations, both written and oral, since he made his Budget statement in November.
21. Mr. Cousins:
To ask the Chancellor of the Exchequer if he will estimate the tax revenues lost in transfer pricing abuses by multinational companies in the past five tax years. [12657]
Mr. Jack:
The Inland Revenue devotes significant resources to ensuring that the transfer pricing legislation is compiled with, and any evidence of non-compliance is carefully investigated. Over the past five tax years, the estimated total tax from inquiries made by the specialist section at the Inland Revenue which deals with the largest cases with international aspects, including transfer pricing, was £793 million. This does not include additional tax arising from work in the Inland Revenue's local offices or at the oil taxation office, separate records of which are not kept but which would significantly increase the total. It is not possible to estimate the amount of tax revenue lost through any failures to follow the transfer pricing legislation of which the Inland Revenue has not become aware.
22. Mr. Bellingham:
To ask the Chancellor of the Exchequer when he next expects to meet small business men to disclose company taxation; and if he will make a statement. [12658]
Mr. Jack:
The Government attach great importance to the role of small businesses in the economy, and Ministers meet small business men and their representatives regularly to discuss their concerns.
As well as the cuts in income tax and the small companies rate of corporation tax, my right hon. and learned Friend the Chancellor announced in the Budget measures on inheritance tax, capital gains tax, employers' national insurance contributions, business rates, and VAT to help small businesses prosper. Representatives of small businesses continue to be fully involved in consultations on the introduction of self-assessment.
8 Feb 1996 : Column: 363
23. Mr. Hoyle:
To ask the Chancellor of the Exchequer what recent representations he has received regarding investment levels. [12659]
Mrs. Angela Knight:
Treasury Ministers regularly receive representations on wide-ranging aspects of the economy including, from time to time, investment levels.
24. Mr. David Nicholson:
To ask the Chancellor of the Exchequer what estimate he has made of the likely change in living standards in the next year. [12660]
Mr. Jack:
A family on average earnings will be about £450 better off next year after tax and inflation, if prices and earnings rise in line with the assumptions published in the "Financial Statement and Budget Report". This will take the total increase in real take home pay since 1978-79 for this family to over £4,500.
Ms Corston:
To ask the Chancellor of the Exchequer what factors he has taken into consideration in assessing the viability of the Bank of England regional branches; and if he will make a statement. [12643]
Mrs. Angela Knight:
Decisions on the Bank of England regional branch network are a matter for the bank. The bank has made it clear that it will maintain and enhance the work of its regional agents in gathering economic and industrial intelligence.
Mr. Dalyell:
To ask the Chancellor of the Exchequer what general estimate he has made of the cost to the Treasury of sanctions against Libya in terms of tax and import duties foregone. [12728]
Mrs. Angela Knight:
United Nations Sanctions against Libya impose no restriction on the importation of goods from Libya. It is not possible to estimate the effect on tax and import duties as a result of the United Nations sanctions on Libya.
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