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Climate Change Levy
Mr. Hancock: To ask the Chancellor of the Exchequer how many (a) private sector and (b) public sector enterprises are eligible to pay the climate change levy in the Portsmouth, South constituency; and if he will make a statement. [65372]
John Healey: This information is not readily available and could be obtained only at disproportionate cost.
Oral Questions
Mr. Simon Thomas: To ask the Chancellor of the Exchequer how many oral questions he has transferred to other Departments in each of the last 18 months. [65513]
John Healey: Since January 2001, 16 of the 480 oral questions tabled to Treasury Ministers have been transferred, in each case because they were more appropriate to other Departments. The breakdown sought by the hon. Gentleman is as follows:
| Date of oral questions | Number transferred |
|---|---|
| 25 January 2001 | — |
| 1 March 2001 | — |
| 29 March 2001 | 1 |
| 10 May 2001 | — |
| 19 July 2001 | 1 |
| 8 November 2001 | 5 |
| 6 December 2001 | 2 |
| 24 January 2002 | 2 |
| 28 February 2002 | 1 |
| 11 April 2002 | 1 |
| 9 May 2002 | — |
| 20 June 2002 | 3 |
Company Car Tax
John Mann: To ask the Chancellor of the Exchequer if he will make a statement on his plans for company car tax. [65536]
John Healey: The new company car tax system linking the charge on the benefit of a company car to the level of its CO 2 emissions came into effect April this year.
The Inland Revenue will be undertaking an extensive evaluation exercise to capture the effects of the reforms.
Any changes to the system will be made in the context of the Chancellor's Budget decisions in future years.
2 Jul 2002 : Column 285W
Red Diesel
Mr. Peter Duncan: To ask the Chancellor of the Exchequer how many random inspections for red diesel were conducted during each of the last five years. [65246]
John Healey: To detect misuse of red diesel Customs are increasingly moving to risk-assessed inspections made at premises. Roadside checks of vehicles tend to be less targeted and in some cases have a random element.
I therefore refer the hon. Gentleman to the answer I gave to the hon. Member for Edinburgh, West (John Barrett) on 20 June 2002, Official Report, column 516W, concerning the number of roadside tests conducted.
Tax Law Rewrite Project
Barbara Follett: To ask the Chancellor of the Exchequer if he will make a statement on the work of the Tax Law Rewrite project. [66803]
Dawn Primarolo: I am pleased to tell the House that the Tax Law Rewrite project will soon reach another major milestone. The Inland Revenue will shortly publish the project's second draft Bill, on employment income, pensions and taxable social security benefits, for a final round of consultation. The Bill will be ready for introduction in Parliament by the end of the year.
Earlier versions of this rewritten legislation have been extensively revised in the light of comments and suggestions from tax professionals and other interested parties. This continuous dialogue between the project team and business interests, tax practitioners, the legal profession and Inland Revenue specialists is a key feature contributing to the success of the project.
Community Development Venture Fund
Mr. Don Foster: To ask the Chancellor of the Exchequer, pursuant to his answer of 7 May 2002, Official Report, column 33W, on the Community Development Venture Fund, if he will place in the Library the performance indicators and targets that will be used for Bridges Community Ventures to measure performance. [61815]
Nigel Griffiths: I have been asked to reply.
The Fund Manager's performance will be primarily measured against:
- (i) Commitment of the Fund within the seven year investment period, with at least 70 per cent. fully invested and the remainder committed to related follow on investment deals.
- (ii) At least a 10 per cent. IRR across a portfolio of between 50 to 60 investment deals.
- (iii) Investment deals being made in businesses located in the 25 per cent. most deprived qualifying wards in England, the business plans of which aim to:
- (a) Create/safeguard that at least 35 per cent. of the employees of such businesses are from qualifying wards, or,
- (b) Stimulate other businesses (e.g. supply chain) with at least 50 per cent. of non-salary expenditure going to local businesses in qualifying wards, or,
- (c) Serve local people and businesses in qualifying wards—i.e. core target for services and products.
2 Jul 2002 : Column 286W
The Government, along with the other investors in this pilot Fund, expects the Fund to achieve social, as well as investment, returns. An independent specialist will be engaged to evaluate social impact and assess the Fund's performance in helping achieve:-
- Wealth creation in deprived areas;-
Creation of good jobs in fast growing businesses
Developing entrepreneurial role models and,
Encouraging others in the venture capital supply market to spread their investments into the more deprived areas.
Nigel Griffiths: I have been asked to reply.
The Community Development Venture Fund (CDVF) is not a Government administered or contracted out Fund, so (a) and (b) do not apply. I also refer the hon. Member to parliamentary question No. 61674 answered today.
It is a private sector initiative led by Sir Ronald Cohen, in his pro bono role as chairman of the Social Investment Task Force. In order to ensure that public investment in the Fund represents good value for money in promoting the Government's objective of boosting entrepreneurial business in disadvantaged communities, agreement was negotiated based on its experience with the Regional Venture Capital Funds.
Mr. Don Foster: To ask the Chancellor of the Exchequer, pursuant to his answer of 7 May 2002, Official Report, column 33W, on the Community Development Venture Capital Fund, if he will list (a) public and (b) private investors in Bridges Community Ventures. [61672]
Nigel Griffiths: I have been asked to reply.
The public investor is the Government through the Phoenix Fund of the Small Business Service.
The institutional and major individual private sector investors are listed on the Fund Manager's website at: www.bridgesventures.com and are:
- Doughty Hanson & Co; HSBC; Lehman Brothers; Lloyds TSB (Scotland); Merrill Lynch;
Reuters; Royal Bank of Scotland; Schroder Salomon Smith Barney (partners in Citigroup);
West Midlands Pension Fund; Sir Ronald Cohen and Tom Singh.
Nigel Griffiths: I have been asked to reply.
The funding for the Government's investment in the Community Development Venture Fund is being provided by the Small Business Service (Department of Trade and Industry), through its Phoenix Fund.
2 Jul 2002 : Column 287W
Mr. Don Foster: To ask the Chancellor of the Exchequer, pursuant to his answer of 7 May 2002, Official Report, column 33W, on the Community Development Venture Fund, if he will place in the Library the invitation to tender for the Community Development Venture Fund; and if he will make a statement on how the information was made available. [61674]
Nigel Griffiths: I have been asked to reply.
The Community Development Venture Fund (CDVF) is not a Government fund but a private sector led venture capital initiative, in which the Government are an investor alongside other private sector investors. As such, the issue of invitation to tender does not arise in this case.
2 Jul 2002 : Column 288W
As is common practice in the UK venture capital industry, the fund manager (Bridges Community Ventures Ltd) held discussions with a number of potential investors in the industry.
Income Tax
Mr. Willetts: To ask the Chancellor of the Exchequer, pursuant to his answer to the hon. Member for Tooting (Mr. Cox) of 10 May 2002, Official Report, column 396W, on income tax, (a) how many and (b) what proportion of pensioners paid income tax in each year since 1992 broken down into figures for each tax bracket. [62579]
Dawn Primarolo: Estimates of the number and proportion of pensioner taxpayers by tax bracket are shown in the table.
| Number of pensioners paying tax at lower(7) rate (000s) | Percentage of all pensioners(8) | Number of pensioners paying tax at starting(9) rate (000s) | Percentage of all pensioners(8) | Number of pensioners paying tax at 'savers' rate(10) (000s) | Percentage of all pensioners(8) | Number of pensioners paying tax at basic rate(11) (000s) | Percentage of all pensioners(8) | Number of pensioners paying tax at higher rate(12) (000s) | Percentage of all pensioners(8) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1992–93 | 1,160 | 11 | — | — | — | — | 2,190 | 21 | 130 | 1 |
| 1993–94 | 1,520 | 14 | — | — | — | — | 1,920 | 18 | 130 | 1 |
| 1994–95 | 1,390 | 13 | — | — | — | — | 2,310 | 22 | 160 | 2 |
| 1995–96 | 1,680 | 16 | — | — | — | — | 2,110 | 20 | 180 | 2 |
| 1996–97 | 2,270 | 21 | — | — | — | — | 1,430 | 13 | 160 | 1 |
| 1997–98 | 1,840 | 17 | — | — | — | — | 1,980 | 19 | 180 | 2 |
| 1998–99 | 1,950 | 18 | — | — | — | — | 2,200 | 21 | 190 | 2 |
| 1999–2000 | — | — | 720 | 7 | 610 | 6 | 2,650 | 25 | 220 | 2 |
| 2000–01 | — | — | 760 | 7 | 610 | 6 | 2,750 | 25 | 230 | 2 |
| 2001–02(13) | — | — | 920 | 9 | 580 | 5 | 2,750 | 25 | 230 | 2 |
(7) From 1993–94 until 1998–99 a number of taxpayers with taxable income in excess of the lower rate limit only paid tax at the lower rate. This was because it was only their dividend income and (from 1996–97) their savings income which took their taxable income above the lower rate limit, and such income was chargeable to tax at the lower rate and not the basic rate.
(8) Source: Government Actuary's Department.
(9) In 1999–2000 the starting rate replaced the lower rate. Taxpayers with a marginal rate at the 10 per cent. starting rate from an extra £1 of earnings.
(10) Taxpayers with a marginal rate at the 20 per cent. lower rate for savings income or the 10 per cent. ordinary dividend rate from an extra £1 of earnings. Before 1999–2000 these people would have been classified as lower rate taxpayers.
(11) Taxpayers with a marginal rate at the basic rate from an extra £1 of earnings.
(12) Taxpayers with taxable income above the higher rate threshold.
(13) Provisional.
Pensioners are defined as women aged 60 and over and men aged 65 and over. This information is based on the Survey of Personal Incomes.
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