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Financial Services Authority (Registration)
Mr. Carmichael: To ask the Chancellor of the Exchequer how many firms of (a) solicitors and (b) chartered accountants in (i) Scotland and (ii) England and Wales were registered with the Financial Services Authority for the conduct of investment business under the Financial Services and Markets Act 2000 in (A) 2001 and (B) April 2002. [51965]
Ruth Kelly: The transition to the new regime for professional firms established under the Financial Services and Markets Act 2000 (FSMA) for regulation of professional firms lasted until mid-December 2001. During the transition from the regime established under the Financial Services Act 1986 (FS Act) firms could opt for direct regulation by the FSA if they conducted "mainstream" investment business or opt for oversight by their professional body if their investment business was incidental to their professional services.
At 31 March 2001 the number of these professional firms certified by their recognised professional bodies under the FS Act was as follows:
- The Law Society (ie England and Wales)—6,646
The Law Society of Scotland—525
The Institute of Chartered Accountants in England and Wales—4,718
The Institute of Chartered Accountants of Scotland—397.
- The Law Society (ie England and Wales)—361
The Law Society of Scotland—151
The Institute of Chartered Accountants in England and Wales—660
The Institute of Chartered Accountants of Scotland—55.
Young People
Dr. Starkey: To ask the Chancellor of the Exchequer on what subjects and on which dates his Department has consulted organisations representing young people; and if he will list such organisations. [52502]
Ruth Kelly: This information is not held centrally in the form requested and would be provided only at disproportionate cost.
The Treasury is committed to the new core principles for the involvement of children and young people published by the Minister for Young People in November 2001. The Treasury will shortly be publishing an action plan setting out for the first time how it will implement these principles to extend the participation of children and young people in the design, provision and evaluation of policies and services that affect them.
Milk
Mr. Peter Duncan: To ask the Chancellor of the Exchequer what his estimate is of the UK's current balance of trade in (a) milk and (b) milk products. [52907]
Nigel Griffiths: I have been asked to reply.
According to information compiled by HM Customs and Excise, in 2001 the UK had a crude trade surplus worth £170 million in milk and a crude trade deficit of
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£799 million in milk products. Milk products include yoghurt, buttermilk, ice cream, whey, butter, cheese and curds.
UK exports are valued at the cost of goods whereas imports also include the costs of freight and insurance. The difference between exports and imports is referred to as a "crude" trade balance to reflect this difference in valuation.
BCCI
Mr. Vaz: To ask the Chancellor of the Exchequer (1) how much money the Bank of England has spent on legal fees to date in defence of the proceedings against it by the liquidators of BCCI SA; [54125]
- (2) if he will estimate the legal costs of the Bank of England defending the proceeds brought by BCC1 SA, up to and including trial and subsequent appeals. [54124]
Ruth Kelly: These are questions for the Bank of England, not the Treasury.
United Kingdom GDP
Mr. Allen: To ask the Chancellor of the Exchequer if he will estimate the contribution made by immigrants to United Kingdom GDP since 1972; and if he will make a statement. [54513]
Ruth Kelly: There are no direct statistics on the proportion of UK GDP accounted for by immigrants, and the data required to produce indirect estimates do not extend back to 1972. However, in 2001 foreign-born people accounted for around 8 per cent. of total UK employment, and the average gross weekly pay of foreign-born employees was about 16 per cent. above the average for all employees. On this basis, and assuming that relative wage rates proxy relative labour productivity, it can be estimated that the foreign-born population accounted for around 10 per cent. of UK GDP in 2001.
Community Development Venture Capital Fund
Mr. Don Foster: To ask the Chancellor of the Exchequer which Department will be administering the new Community Development Venture Capital Fund announced in the Budget; who the intended recipients of this fund are; what guidelines have been drawn up for those wishing to bid for this fund; and if he will place a copy of these guidelines in the Library. [54727]
Ruth Kelly: The Community Development Venture Fund is a private sector venture capital fund in which the Government is investing. The fund will be run by a professional team of venture capital fund managers working for Bridges Community Ventures Limited. The fund will be able to invest in eligible businesses in deprived communities in England, defined as the most deprived 25 per cent. of wards according to the DTLR's Index of Multiple Deprivation. The criteria for eligibility will be published by Bridges Community Ventures Limited under the terms agreed between them and the Small Business Service.
Terrorist Finance
Ross Cranston: To ask the Chancellor of the Exchequer what steps he will take to implement
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Recommendation VII (information whose originator to be included in funds transfer messages) of the Financial Action Task Force Recommendations on Terrorist Financing. [54683]
Ruth Kelly: The Government will shortly publish a consultation document on this issue.
Employment Statistics
Mr. Cox: To ask the Chancellor of the Exchequer how many (a) men aged over 65 years and (b) women aged over 60 years are in full-time employment. [53879]
Ruth Kelly: The information requested falls within the responsibility of the National Statistician. I have asked him to reply.
Letter from Len Cook to Mr. Tom Cox, dated 7 May 2002:
- As National Statistician, I have been asked to reply to your recent question on the numbers of men aged over 65 and women aged over 60 in full-time employment. (53879)
- The latest Labour Force Survey (LFS) estimate for the three month period ending in February 2002 are 98,000 men aged 65 and over in full-time employment, and 152,000 women aged 60 and over in full-time employment. These estimates are not seasonally adjusted.
Minimum Wage
Mr. Cox: To ask the Chancellor of the Exchequer how many (a) men and (b) women have benefited from the introduction of the national minimum wage. [53877]
Ruth Kelly: The information requested falls within the responsibility of the National Statistician. I have asked him to reply.
Letter from Len Cook to Mr. Tom Cox, dated 7 May 2002:
- As National Statistician, I have been asked to reply to your recent question about the number of men and women who have benefited from the introduction of the National Minimum Wage (NMW). (53877)
- The table shows the number of jobs held by men and women which were paid below the NMW levels prevailing in the years 1998 to 2001.
| Men | Women | |
|---|---|---|
| Spring 1998(5) | 420 | 1,100 |
| Spring 1999(6) | 200 | 380 |
| Spring 2000(6) | 100 | 200 |
| Spring 2001(7) | 110 | 210 |
(5) Figures for spring 1998, before the NMW was introduced, are for the number of jobs paid at less than £3.00 per hour (aged 18–21) or £3.60 per hour (aged 22 and over).
(6) NMW rates of £3.00 per hour (aged 18–21) or £3.60 per hour (aged 22 and over).
(7) NMW rates of £3.20 per hour (aged 18–21) or £3.70 per hour (aged 22 and over).
Greater London (Migration)
Mr. Cox: To ask the Chancellor of the Exchequer what the level of migration of people into the Greater London area from the rest of the UK was in the last three years. [54188]
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Ruth Kelly: The information requested falls within the responsibility of the National Statistician. I have asked him to reply.
Letter from Len Cook to Mr. Tom Cox, dated 7 May 2002:
- As National Statistician I have been asked to reply to your question on the level of migration into Greater London from the rest of the UK. (54188)
- The attached table shows the flow of inward, outward and net migration for Greater London during the last three years from 1998 to 2000.
| In | Out | Net inflow | |
|---|---|---|---|
| 1998 | 171.2 | 217.9 | -46.7 |
| 1999 | 163.2 | 218.4 | -55.2 |
| 2000 | 163.1 | 233.0 | -69.9 |
Note:
These data are mid-year estimates
Source:
Figures on migrants within the UK are derived from the re-registration of NHS patients
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