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TREASURY
European Council
Mr. Timms: To ask the Chancellor of the Exchequer if he will make a statement on the Council meeting of the Economic and Finance Ministers of the European Union held on 5 November. [15430]
Mr. Gordon Brown: I represented the UK at the Economic and Finance Council--ECOFIN--of the European Union in Brussels on 5 November. The Economic Secretary accompanied me.
The Council had only one agenda item to consider, the preparation of the Special Employment Council in Luxembourg later this month. The Council discussed the Commission's draft Employment Guidelines brought forward in response to the Amsterdam European Council's remit.
The Council made progress towards a draft that suited all, and the Presidency has undertaken to draft Conclusions in time for the next ECOFIN on 17 November. There was strong support for the development of Action Plans.
The Council gave broad endorsement to the EIB's plans to assist employment. It also gave a general welcome to the European Parliament's proposed package of EC Budget employment-related spending.
Sir Richard Body:
To ask the Chancellor of the Exchequer what is the maximum amount that can be levied as a fine in accordance with the amended proposal for the excessive deficit procedure laid down in European Union document 9486/97. [12502]
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Mrs. Liddell:
According to Council Regulation (EC No. 1467/97, of 7 July 1997, the maximum single fine cannot exceed an upper limit of 0.5 per cent. of GDP. Fines would not apply to Member States that do not participate in the single currency.
Mr. Soames:
To ask the Chancellor of the Exchequer what steps he intends to take to improve the quality and accuracy of Government statistics. [15082]
Mrs. Liddell:
The Government places great importance on the quality and reliability of official statistics to guide and monitor policy and to inform the public about social and economic matters. The Government Statistical Service is constantly looking for ways to improve the quality of the statistics produced, within the constraints of available resources. It is vital that official statistics also command widespread public confidence. Accordingly, we shall be taking forward our manifesto commitment to the creation of an independent National Statistical Service, and an announcement will be made in due course.
Mr. Steen:
To ask the Chancellor of the Exchequer what estimate he has made of the revenue raised from the windfall tax (a) in total and (b) from each of the water and sewerage companies. [15041]
Mr. Geoffrey Robinson:
The windfall tax is expected to raise some £5.2 billion in total, of which water and sewerage companies are expected to pay some £1.65 billion. The liability of individual companies is a confidential matter between them and the tax authorities.
Sir Richard Body:
To ask the Chancellor of the Exchequer what factors determined the choice of the euro symbol. [13853]
Mrs. Liddell:
The euro symbol was designed by the European Commission services. The final choice was made from a number of alternative designs taking into account a survey of the views of the general public.
Mr. Norman:
To ask the Chancellor of the Exchequer what representations she has received on the need to compensate Kent county council and other local authorities in Kent for the cost to local authority pension schemes of the abolition of the payment of tax credits on dividends; what response he has made; and if he will make a statement. [14993]
Mr. Geoffrey Robinson:
I have received a number of representations from local authorities about the effects on local authority pension schemes of the removal of tax credits in respect of Advance Corporation Tax. In my replies, I have explained that the extent to which these changes affect local authority budgets will depend on the overall judgments made by the funds' actuaries as they undertake revaluations due, in England, to take effect from 1999-2000. The Government has told the Local
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Government Association that it will take all factors into account in determining the level of local authority provision for 1999-2000 and subsequent years.
Mr. Vaz:
To ask the Chancellor of the Exchequer when he last met the Governor of the Bank of England to discuss financial regulation; and when he next plans to do so. [14987]
Mrs. Liddell:
My right hon. Friend often meets the Governor to discuss a range of different subjects.
Mr. Denzil Davies:
To ask the Chancellor of the Exchequer, pursuant to his oral statement of 27 October, Official Report, column 584, what are the main criteria against which Her Majesty's Government will judge whether a single currency is successful enough for the United Kingdom to seek to join. [14318]
Mrs. Liddell:
My right hon. Friend the Chancellor has set out the five economic tests that define whether there is a clear and unambiguous economic case for Britain to join the single currency.
These tests are: first, whether there can be sustainable convergence between Britain and the economies of a single currency; secondly, whether there is sufficient flexibility to cope with economic change; thirdly, the effect on investment; fourthly, the impact on our financial services, and finally whether it is good for employment.
Mr. Leigh:
To ask the Chancellor of the Exchequer if he will list the percentage of families with dependent children which are (a) married couples, (b) cohabiting couples and (c) lone parent by each type. [14453]
Mrs. Liddell:
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. Edward Leigh, dated 11 November 1997:
| Families with dependent children | Great Britain 1996 |
|---|---|
| Per cent.(3) | |
| Married couple | 70 |
| Cohabiting couple | 8 |
| Lone mother | 20 |
| single | 7 |
| widowed | 1 |
| divorced | 6 |
| separated | 5 |
| Lone father | 2 |
| All lone families | 21 |
| Base | 2,975 |
(3) Because of rounding some sub-totals differ from the sum of their parts.
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Mr. Leigh: To ask the Chancellor of the Exchequer if he will list the percentage of households headed by a person who is (i) married, (ii) cohabiting, (iii) single, (iv) widowed, (v) divorced, (vi) separated and (vii) cohabiting with someone of the same sex. [14452]
Mrs. Liddell: 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.
| Great Britain 1996 | |
|---|---|
| Per cent. | |
| Married | 54 |
| Cohabiting | 6 |
| Single | 13 |
| Widowed | 15 |
| Divorced | 8 |
| Separated | 3 |
| Same sex cohabiting | (4)-- |
| Base | 9,158 |
(4) Estimated at 0.1 per cent.
Overseas Investment
Mr. Forth: To ask the Chancellor of the Exchequer if he will list for (a) 1970, (b) 1980, (c) 1990 and (d) the latest available date, the totals for United Kingdom private sector overseas investment in (i) the other European Union countries, (ii) North America and (iii) the rest of the world. [14483]
Mrs. Liddell: 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.
| £ million | ||||||
|---|---|---|---|---|---|---|
| Area | 1970(5) | 1980(5) | 1990* | 1995* | 1990¶ | 1995¶ |
| EU (14 countries) | 104 | 486 | 4,448 | 8,473 | 5,103 | 9,613 |
| North America | 185 | 1,861 | 1,152 | 11,092 | 941 | 10,523 |
| Rest of the world | 257 | 1,044 | 3,552 | 5,536 | 4,064 | 5,888 |
(5) Figures for 1970 and 1980 exclude investment in oil companies. To enable comparison across time, 1990 and 1995 are presented both *excluding and ¶ including oil companies.
11 Nov 1997 : Column: 508
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