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Counterfeiting
Mr. Gordon Prentice: To ask the Chancellor of the Exchequer what assessment he has made of how secure plastic bank notes are against counterfeiting; if they were considered as a replacement for the current £20 note; and if he will make a statement. [86649]
Ms Hewitt:
The Bank of England continues to monitor carefully polymer (plastic) substrates for banknotes. In terms of security against counterfeiting, these type of banknotes are incompatible with certain traditional and well-proven security features (eg thread and watermark).
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However, the Bank are continually assessing the effectiveness of the different type of security features polymer offers.
The polymer substrate was considered for the £20 variant, but was discounted because of incompatibility with the theme of the current (Series E) note designs. The new £20 note is a variant within the existing series and is not the start of a new series of notes. It contains a number of additional security features which offer enhanced protection against counterfeiting and will cause less confusion to the public than an entirely new type of note.
Mr. Cohen:
To ask the Chancellor of the Exchequer what assessment he has made of the problem of cyber-laundering of money and assets; what proposals he has for (a) national and (b) international measures to combat it; and if he will make a statement. [86857]
Ms Hewitt:
(a) The Government are determined to tackle money laundering in all its forms. The obligations under the Money Laundering Regulations 1993 to report all suspicious transactions, to keep records, to train staff and to establish the identity of customers apply irrespective of whether the business is carried out electronically or otherwise. The Government will be looking at whether additional measures are needed to tackle the laundering of money by electronic means in the course of discussions with other member states on a possible Second EC Money Laundering Directive. Meanwhile the Financial Services and Markets Bill will enhance the powers of the Financial Services Authority to combat money laundering carried out through financial institutions, including those offering services over the internet.
(b) The UK chaired a meeting of anti money laundering experts from the member countries of the Financial Action Task Force (FATF) in November 1998. That meeting discussed, among other things, the threat from cyber-laundering and shared experiences in combating it. A report on that meeting was published by the FATF in February 1999 and is available on the FATF's internet website.
The Government are committed to the prevention of cybercrime as a whole. To this end, it is participating in the negotiation of a Council of Europe Cybercrime Convention. Domestically, the Association of Chief Police Officers (ACPO) chairs a tripartite forum with government officials and the Internet Service Providers to develop measures for law enforcement and protection of internet users.
Mr. Cohen:
To ask the Chancellor of the Exchequer what assessment he has made of the potential loss of revenue from offshore betting; what plans he has to prevent such loss; and if he will make a statement. [87104]
Dawn Primarolo:
The Government keep the revenue yield from General Betting Duty under constant review. The transfer offshore of a single telephone betting business will have a minimal effect on government revenues.
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The extent of overseas bookmaking operations is constrained by a prohibition on them advertising in the United Kingdom. The scope of this prohibition is the subject of an impending challenge in the High Court. The Government will take the outcome of this case into account when deciding on appropriate courses of action to safeguard the revenue.
Mr. Woolas:
To ask the Chancellor of the Exchequer what timetable he is proposing for the announcement of decisions on allocations in the financial year 1999-2000 from the Capital Modernisation Fund with respect to the Greater Manchester Passenger Transport Executive submissions. [87003]
Mr. Milburn:
I will announce decisions on first round bids from the Capital Modernisation Fund shortly.
Mr. Chope:
To ask the Chancellor of the Exchequer if it is the policy of the Government that the Royal Mint should be able to restrict the availability of special coinage to personal visitors to the Millennium Dome; and if he will make a statement. [87108]
Ms Hewitt
[holding answer 15 June 1999]: The United Kingdom £5 Millennium coin will be struck at the Royal Mint in Llantrisant and in the Millennium Dome. Coins struck at the Royal Mint will be made generally available in line with normal practice for commemorative coins. Coins struck in the Dome will bear a special mintmark and will be available only to visitors to the Dome. No restrictions will be placed on the number that can be minted at the Dome.
Ms Lawrence:
To ask the Chancellor of the Exchequer what plans he has to take action against the avoidance of capital gains tax through the purchase of trust losses. [87559]
Dawn Primarolo:
There is mounting evidence that the tax rules which provide for capital losses realised within trusts to pass to beneficiaries in certain circumstances are being widely abused for the purpose of avoiding capital gains tax. Avoidance schemes are being set up and marketed specifically to take advantage of these rules by enabling people to purchase interests in trusts with losses. In some cases very large losses are being manufactured within trusts to exploit these rules. If successful, these schemes could lead to a very significant loss of tax revenue.
The Government are not prepared to tolerate this sort of avoidance activity which undermines the integrity of the tax system and creates unfairness between taxpayers. A new clause will shortly be tabled for Report to tackle this abuse. The new Clause will restrict the circumstances in which losses accruing to trusts can be transferred to beneficiaries and the use which beneficiaries can make of such losses.
The Inland Revenue are today issuing a Press Release giving details of the new Clause.
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Mr. Brady:
To ask the Chancellor of the Exchequer how many parliamentary questions have been tabled to his Department for written answer on a named day since 15 April; and what percentage of them received a substantive response on that day. [87328]
Ms Hewitt:
74 of the 121 named day questions (61 per cent.) tabled since 15 April have been answered substantively on the due day. 78 per cent. of such questions were answered within two days of the named day.
Sir Peter Emery:
To ask the Chancellor of the Exchequer for what reason the Inland Revenue has introduced Income Tax Form SA106/BMSD12/98. [87137]
Dawn Primarolo:
Income Tax form SA106/BMSD12/98 was introduced as part of the Self Assessment tax return to enable taxpayers to declare foreign income and claim tax credit relief.
Mr. Maclean:
To ask the Secretary of State for Scotland if he will list the responsibilities of each Scottish Office Minister after 1 July. [86845]
Dr. Reid:
I refer the right hon. Member to the answer given to the hon. Member for Woodspring (Dr. Fox), by my right hon. Friend the Prime Minister on 25 May 1999, Official Report, column 98.
Mr. Maclean:
To ask the Secretary of State for Scotland if he will list the uses that Government departments, other than his Department, will make of Dover House after 1 July. [86836]
Dr. Reid:
Scottish Executive Ministers and their officials will have access to Dover House when they have official business in London.
Mr. Swayne:
To ask the Secretary of State for Scotland if he will publish the estimated cost of travel expenses for the new Scottish Executive for the period up to 1 July. [86917]
Dr. Reid:
It is not possible at this time to make a reliable estimate of such costs during the period in question.
From 1 July 1999, this will be a matter for the Scottish Parliament.
Ms Roseanna Cunningham:
To ask the Secretary of State for Scotland (1) if he will make a statement on the
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arrangements for the transfer of responsibility for the new Scottish Parliament to the Scottish Parliament Corporate Body; [86903]
Dr. Reid:
Legal and financial responsibility for the new Scottish Parliament building at Holyrood transferred from Scottish Office Ministers to the Scottish Parliament Corporate Body on 1 June 1999. Requests for information on the Holyrood Project should in the first instance be made through the Presiding Officer of the Scottish Parliament.
(2) if he will list the contracts for work on the (a) construction, (b) design and (c) preparation for construction and related matters for the new Scottish Parliament Building, indicating when each contract was signed, which are still under negotiation and at what stage those negotiations are; and if he will make a statement. [86904]
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