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Saving
33. Mr. Nicholas Winterton:
To ask the Chancellor of the Exchequer what measures he has taken to encourage saving. [97022]
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Miss Melanie Johnson:
The Government's strategy is two-fold. Firstly, it is to ensure economic stability, including low and stable inflation. High and variable inflation, such as the UK experienced in the past, discourages saving. The Government has reformed the macroeconomic framework to build a sound and credible platform of stability: inflation is close to target and expected to remain so. This will encourage savings and investment.
Supporting this is the introduction of a variety of measures. These include tax free individual savings accounts (ISAs) for short term at-need savings; pensions, especially stakeholder pensions, for planning for retirement; improved transparency and value of savings products, such as CAT standards for ISAs and pooled pensions investments (ppis); better regulation of the financial services industry through the Financial Services and Markets Bill; and raising consumer awareness, such as the Financial Services Authority's plans for comparative information on savings and investment products.
34. Mr. Swayne:
To ask the Chancellor of the Exchequer what estimate he has made of the extra tax payable since May 1997 as a result of his Budget measures. [97023]
Dawn Primarolo:
Costings of the measures in the July 1997, March 1998 and March 1999 Budgets are given in tables 2.2, 1.3 and 1.3 of the respective Financial Statement and Budget Reports.
39. Mr. Gray:
To ask the Chancellor of the Exchequer what estimate he has made of the net change to the amount of tax payable in the period 1999-2000 to 2001-02 as a result of the three Budgets since July 1997. [97028]
Dawn Primarolo:
Costings of the measures in the July 1997, March 1998 and March 1999 Budgets are given in tables 2.2, 1.3 and 1.3 of the respective Financial Statement and Budget Reports.
35. Mr. Gill:
To ask the Chancellor of the Exchequer what representations he has received regarding the proposed pesticides tax. [97024]
Mr. Timms:
Ninety nine responses were received in the course of the consultation exercise on the design of a tax or charge scheme for pesticides. A summary of these was published on 9 November.
38. Mr. Blizzard:
To ask the Chancellor of the Exchequer if he will make a statement on the future of the fuel duty escalator. [97027]
Mr. Timms:
The Government's policy on the fuel duty escalator is set out on page 121 of the 1999 Financial Statement & Budget Report.
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40. Mr. John Cryer:
To ask the Chancellor of the Exchequer if he will make a statement on the mechanisms of public accountability of the European Central Bank. [97029]
Miss Melanie Johnson:
The EC Treaty contains several provisions designed to ensure the accountability of the European Central Bank. In accordance with Article 113(3) of the Treaty, the ECB is required to submit an annual report on the activities of the European System of Central Banks, and on the monetary policy of both the previous and current year to the European Parliament, the Council, the Commission and the European Council. The President of the ECB is required to present the report to the Council and to the European Parliament which may hold a general debate on that basis. In addition, the President of the ECB and the other members of the ECB's Executive Board may, at the request of the European Parliament or on their own initiative, be heard by the committees of the European Parliament.
Mr. Denzil Davies:
To ask the Chancellor of the Exchequer what was the total cost to public funds of printing and publishing Building Trust in Statistics (Cm 4412). [98040]
Miss Melanie Johnson:
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. Denzil Davies, dated 11 November 1999:
Mr. Gibb:
To ask the Chancellor of the Exchequer how many category-lines of duty there are on imported goods and services under the Integrated Tariff of the United Kingdom. [98162]
Dawn Primarolo:
There are 15,600 commodity lines within the Integrated Tariff. Identifying how many carry positive rates of duty would be disproportionately costly. Services are not covered by the Integrated Tariff.
Mr. Llwyd:
To ask the Chancellor of the Exchequer what representations he has received as to the fairness and legality of the tax treatment of former tenants of the Land Settlement Association in respect of the settlement of their litigation against the Ministry of Agriculture in 1991; and if he will make a statement. [98082]
Dawn Primarolo:
Representations have been made querying the raising of tax charges by the Inland Revenue in respect of out of court compensation paid by MAFF to a number of former tenants of the Land Settlement Association. It has been explained that a compensation payment received for personal hardship is not liable to
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income tax, but a compensation payment received for the loss of trading profits is taxable as trading income, and that the nature of a compensation payment in an out of court settlement depends on the terms of the settlement read in the light of the pleadings.
It has also been made clear that Ministers do not intervene in individual cases. The Inland Revenue's independence from Treasury Ministers in the handling of individuals' tax affairs must be scrupulously observed. Where disputes continue between taxpayers and the Revenue it is for the Appeal Commissioners and the Courts to determine how the law is to be applied.
Mr. Love:
To ask the Chancellor of the Exchequer if he will list the deficit and surplus of the National Insurance Fund in each of the last 10 years for which figures are available. [98059]
Dawn Primarolo:
The available figures for Great Britain are provided in the table.
As the Director of the Office for National Statistics (ONS), I have been asked to reply to your recent parliamentary question on the total cost to public funds of printing and publishing Building Trust in Statistics (CM. 4412).
The cost to the ONS for printing and publishing Building Trust in Statistics was £2,059. All other printing costs fall entirely to The Stationery Office, the private sector publishers.
| Year | (22)Surplus/deficit |
|---|---|
| 1989-90 | -62 |
| 1990-91 | 1,485 |
| 1991-92 | -3,459 |
| 1992-93 | -4,897 |
| 1993-94 | 1,112 |
| 1994-95 | 2,279 |
| 1995-96 | 1,008 |
| 1996-97 | -98 |
| 1997-98 | 1,871 |
| 1998-99 | 2,565 |
(22) Excess of receipts over repayments
Mr. Flynn: To ask the Chancellor of the Exchequer what is his estimate of the loss to the National Insurance Fund in 2001-02 and 2002-03 from the reduction of employers' contributions resulting from the introduction of a levy on business use of energy in April 2001; and what proposals he has to compensate the Fund for that loss. [97618]
Mr. Timms: The Chancellor announced in the Pre-Budget Report that the employers' rate of National Insurance would be cut from 12.2 per cent. to 11.9 per cent. This change will reduce the level of the National Insurance Fund by around £1 billion in 2001-02 and in 2002-03. A Treasury Grant is used to ensure that the balances on the fund are maintained.
Mr. Flynn: To ask the Chancellor of the Exchequer, pursuant to his answer to my right hon. Friend the Member for Birkenhead (Mr. Field) of 29 October 1999, Official Report, column 1031, by how much the National Insurance Fund balance at the end of each year from 1997-98 to 2001-02 inclusive exceeds the minimum level recommended by the Government Actuary. [97617]
Dawn Primarolo: Estimates for Great Britain are shown in the table.
| Fund balance(23) | Minimum level | Excess | |
|---|---|---|---|
| 1997-98 | 9,608 | 7,099 | 2,509 |
| 1998-99 | 12,173 | 7,429 | 4,744 |
| 1999-2000(24) | 13,702 | 7,758 | 5,943 |
| 2000-01(24) | 15,330 | 7,965 | 7,365 |
| 2001-02(24) | 16,730 | 8,299 | 8,430 |
(23) At the end of the year
(24) The estimates for these years are based on the difference between forecasts of receipts and expenditure. Changes in these forecasts could have a substantial impact on the balance.
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Mr. Flynn: To ask the Chancellor of the Exchequer what was the balance of the National Insurance Fund at (a) 31 March, (b) 30 September and (c) the latest date for which information is available. [97359]
Dawn Primarolo: The balance of the National Insurance Fund (NIF) in Great Britain is estimated to be £12,173 million at 31 March 1999, rising to £13,702 million at 31 March 2000. An estimate for the balance of the NIF at September 1999 would be available only at disproportionate cost.
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