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National Savings

Mr. Hall: To ask the Chancellor of the Exchequer when he decided to require accounts for each product run by the National Savings agency; and what were the reasons for that decision. [13092]

Mrs. Angela Knight: National Savings has produced accounts for all the savings products for a number of years and has published a statement of business results in its annual report. However, currently the only statutory requirement is to produce accounts for the ordinary account and the investment account, and these are the only accounts which are audited and certified by the Comptroller and Auditor General. It has now been agreed by National Savings, the National Audit Office and the Treasury that the accounts for all products will be audited and certified by the Comptroller and Auditor General from 1996-97 onwards, and the National Audit Office is currently conducting a trial audit of the 1995-96 accounts.

Mr. Hall: To ask the Chancellor of the Exchequer if he will list for each year since 1990-91 (a) the original supply estimate, (b) any supplementary estimate and (c) the final outturn for the accounts of the Department of National Savings; and what were the reasons for the mid-year adjustments. [13091]

Mrs. Knight: The original Supply estimates, supplementary estimates and appropriation accounts for each year since 1990-91 for the Department of National Savings are detailed in the table. Reasons for the supplementary estimates are detailed in the notes to the table:

YearSupply estimate net totalSupplementary estimateAppropriation account net total
1990-91174,169(14)1173,224
1991-92181,732(15)2,082181,714
1992-93195,066(16)2,611196,960
1993-94199,300(17)734198,769
1994-95199,0570196,701
1995-96192,261(18)1,350193,520
1996-97179,793(19)1,942--

(14) Token supplementary estimate to take provision for additional payments to certain holders on index-linked savings certificates, additional prizes to certain premium bond holders and compensation for the delay in making these payments arising from a new legal interpretation of the regulations under which the securities were administered (£1,000).

(15) Take-up of end year flexibility (EYF) to finance cost of introducing children's bonus bonds (£582,000) and increase in publicity budget for launch of CBB (£1,500,000).

(16) Transfer from Department of the Environment for buildings maintenance (£181,000). Take up of EYF to meet payments to Post Office for new products (£814,000), and to fund projects originally planned for 1991-92 and to help finance the costs of the new central mainframe (£1,616,000).

(17) Take-up of EYF to part fund introduction of pensioners guaranteed income bond (£579,000), and transfer from Property Holdings for building-specific maintenance (£155,000).

(18) Take-up of EYF to fund voluntary redundancy (£700,000) and delayed information system projects (£650,000).

(19) Take-up of EYF to help fund voluntary redundancy programme (£1,942,000).

Mr. Hall: To ask the Chancellor of the Exchequer what assessment he has made of the stringency of the performance targets set for the National Savings agency relative to its performance in the year prior to executive

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agency status, with particular reference to the target for customer satisfaction; and if he will set out the method by which the targets were calculated. [13093]

Mrs. Knight: National savings targets were set to reflect the priorities for the agency for its first nine months of operation. The targets were announced to Parliament in my reply to a written parliamentary question from my hon. Friend the Member for Southport (Mr. Banks) on 1 July 1996 Official Report, column 284. In setting the targets, consideration was given to the performance of the agency in recent years, particularly to the need for various new measurement systems to be developed as a priority for the agency.

Prior to agency status, National Savings carried out a trial customer satisfaction survey in autumn 1995. The 85 per cent. target for 1996-97 was set against the context of that developmental work and to reflect rising customer expectations in the financial services sector.

Added Value

Mr. Hain: To ask the Chancellor of the Exchequer what are the latest available figures for the added value per worker for (a) United Kingdom, (b) France, (c) Germany, (d) the European Union and (e) Japan. [13444]

Mrs. Angela Knight: The information requested falls within the responsibility of the chief executive of the Office for National Statistics. I have asked him to arrange for a reply to be given.

Letter from Tim Holt to Mr. Peter Hain, dated 4 February 1997:


Manufacturing Industry

Mr. Milburn: To ask the Chancellor of the Exchequer what was the net capital stock of manufacturing industry at 1990 replacement cost for each year since 1979. [14240]

Mrs. Angela Knight: The information requested falls within the responsibility of the chief executive of the Office for National Statistics. I have asked him to arrange for a reply to be given.

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Letter from Tim Holt to Mr. Alan Milburn, date 4 February 1997:


Single Currency

Mr. Gordon Prentice: To ask the Chancellor of the Exchequer what recent steps he has taken in respect of the presentation of Government policy relating to the proposed introduction of the European single currency. [11137]

Mr. Kenneth Clarke [holding answer 27 January 1997]: I keep the House regularly informed of the Government's policy relating to the single currency. Most recently, I set out Government policy in my opening speech to the Europe debate of 11 December 1996, and my two statements to the House of 25 November and 3 December.

Unemployment (Financial Effects)

Mr. Malcolm Bruce: To ask the Chancellor of the Exchequer what is his estimate of the savings to the Exchequer in each of the next five financial years which would result from unemployment being 100,000 lower during that period than assumed in the "Financial Statement and Budget Report 1997-98"; and what proportion of the savings would reflect (a) higher tax revenue and (b) lower Government spending. [12769]

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Mr. Waldegrave [holding answer 28 January 1997]: The effect of lower unemployment on public sector borrowing is extremely uncertain. For example, the effect on tax receipts in particular will depend on the extent to which lower unemployment reflects changes in the labour force and/or changes in the level of gross domestic product and, to the extent that it reflects higher GDP, the effect on tax receipts will vary according to the sectoral effects on incomes and expenditure. It is not possible, therefore, to give even approximate estimates of the type requested.

Within public expenditure, the largest direct impact of lower unemployment will be seen in social security spending. The Department of Social Security estimates that a 100,000 reduction in unemployment might reduce benefit expenditure by around £350 to £400 million per annum.

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