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International Organisation of Securities
Commissions
Mr. Loughton:
To ask the Chancellor of the Exchequer what is the policy of Her Majesty's Government on the
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relocation of the headquarters or other offices of the International Organisation of Securities Commissions to the United Kingdom. [85127]
Ms Hewitt
[holding answer 24 May 1999]: HM Government have supported the Corporation of London's bid for the IOSCO secretariat to relocate to London.
Mr. Hawkins:
To ask the Chancellor of the Exchequer, pursuant to his answer of 4 May 1999, Official Report, columns 348-49, on endowment policies, what estimate he has made of the size of the traded endowment market. [85123]
Ms Hewitt
[holding answer 24 May 1999]: The traded endowment market has an estimated value of £250 million per year. In contrast the value of with-profit bonds issued by life offices is £6 billion per year.
Mr. Hawkins:
To ask the Chancellor of the Exchequer, pursuant to his answer of 4 May 1999, Official Report, column 348, on endowment policies, on the basis of what evidence he stated that the prices offered for second-hand endowment policies are tending to converge with surrender values. [85122]
Ms Hewitt
[holding answer 24 May 1999]: The Financial Services Authority (FSA) monitors prices in the industry. FSA reports that some life offices have increased the surrender values of endowment policies, bringing them closer to the typical prices offered on the second hand endowment market.
Mr. Hawkins:
To ask the Chancellor of the Exchequer, pursuant to his answer of 4 May 1999, Official Report, column 348, on endowment policies, what estimate he has made of the cost of extending the scope of the Financial Services Act 1986 to include all dealings in traded endowment policies. [85121]
Ms Hewitt
[holding answer 24 May 1999]: The important issue is not absolute cost but the need to avoid disproportionate cost. Given the small size of the traded endowment market and the convergence between surrender values and traded endowment prices, the cost of including all dealings within the scope of the Financial Services Act 1986 is likely to exceed any benefits. The Treasury is keeping the situation under review.
Mr. Moore:
To ask the Chancellor of the Exchequer (1) if he will list the average weekly earnings (a) including and (b) excluding overtime for part-time workers in (i) Scotland, (ii) each of the unitary local authority areas in Scotland and (iii) Great Britain, broken down for men and women in manual employment and non-manual employment and for all workers; [85051]
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Ms Hewitt
[holding answer 24 May 1999]: The information requested falls within the responsibility of the Director of the Office for National Statistics. I have asked him to reply.
Letter from Tim Holt to Mr. Michael Moore, dated 25 May 1999:
Mr. Sheerman:
To ask the Chancellor of the Exchequer if he will introduce a taxation system that will (a) discourage the development of green-field sites and (b) encourage the development of brown-field land. [85459]
Ms Hewitt:
The Government's policy is to discourage green-field development and to raise the proportion of new homes built on brown-field land. But this is an extremely complicated issue and needs careful analysis. Tax is just one factor in meeting housing policy objectives and it may not be the most effective. Land use planning clearly has a key role.
Mr. Jim Cunningham:
To ask the Chancellor of the Exchequer what assessment he has made of the economic situation in the manufacturing sector (a) in the West Midlands region and (b) in the United Kingdom; and what steps he is taking to encourage growth in the sector. [85135]
Ms Hewitt:
Recent surveys have shown an improvement in confidence among manufacturers across the country and there is a widespread consensus that manufacturing output will strengthen into 2000. The Government believe that the best way they can support all sectors of business is by delivering long-term stability--based on low inflation and sound public finances--and by working with business to help improve Britain's productivity performance.
Mr. Fallon:
To ask the Chancellor of the Exchequer if the commercial operations of the BBC are subject to Treasury approval. [85347]
Mr. Milburn:
The commercial operations of the BBC are subject to the approval of the Secretary of State for Culture, Media and Sport.
(2) if he will list the percentage of workers on adult rates of pay in part-time employment whose hourly earnings (a) including and (b) excluding overtime pay are less than (i) £4.79, (ii) £6.38, (iii) £6.90 and (iv) £3.60 in (1) Scotland, (2) each of the unitary local authority areas in Scotland and (3) Great Britain, broken down by
(A) male manual, (B) male non-manual, (C) female manual, (D) female non-manual, (E) all manual, (F) all non-manual and (G) all workers. [85050]
As the Director of the Office for National Statistics (ONS), I have been asked to reply to your recent questions regarding earnings for part-time workers in Scotland, the Scottish local authorities and Great Britain.
The New Earnings Survey (NES) can provide earnings data for small geographical areas. However, the release of NES data is restricted to figures which are derived from a sufficiently large sample of employees, and have an acceptable level of accuracy. I have provided the available data for Scotland, the Scottish local authorities and Great Britain in the attached tables. These are based on the 1998 NES, the latest survey for which data are available.
The NES is based on a one per cent. sample of employees in the PAYE system and is therefore likely to under-represent relatively low paid staff earning below the tax threshold and in particular those who work part-time.
I will arrange for a copy of this letter to be placed in the Library.