|Previous Section||Index||Home Page|
12 Dec 2002 : Column 469Wcontinued
Mr. Boateng: The #1 billion special reserve is available to cover costs of military and overseas operations this year to ensure the UK can continue to play a leading role in the global war against terror.
No decisions have been taken about any future UK military contribution in the Middle East, although prudent contingency planning is taking place. Indeed no UK contribution will be needed if Saddam complies with UNSCR 1441.
12 Dec 2002 : Column 470W
John Healey: This year the UK has given special attention to Africa. At the G8 summit in June, members endorsed a new partnership for Africa's development. We share with African leaders the vision that a new outlook is needed and will require a strong commitment to reform and sustained political leadership by Africa itself. In turn, developed countries must share the benefits of globalisation, ensuring Africa can benefit from the opportunities it provides. The UK is taking forward actions in all the areas covered by the G8 Africa action plan as part of our ongoing international development efforts. And the 2002 Spending Review established, for the first time, a #1 billion annual bilateral programme for Africa by 200506.
Dawn Primarolo: The Government Actuary's Department estimate the full-year yields from abolishing the upper earnings limit on National Insurance Contributions to be #3.8 billion in 200203 and #4.3 billion in 200304.
|June 1997||June 2002|
|Average building society rates||6.98 per cent.||5.02 per cent.|
|Monthly interest payments||#232.67||#167.33|
Mr. Webb: To ask the Chancellor of the Exchequer what assessment he has made of the proportion of new mortgage lending in each of the last 12 months has been at (a) variable and (b) fixed rates; and if he will make a statement. 
|New mortgages for house purchase|
ODPM Survey of Mortgage Lenders
12 Dec 2002 : Column 471W
It should be noted that most mortgages taken out at an initial fixed rate of interest will revert to a variable rate of interest after a fixed period of time, unless of course the borrower then chooses to remortgage at another fixed rate of interest.
Mr. Brady : To ask the Chancellor of the Exchequer why his Department omitted Bermuda from its list of Caribbean overseas territories submitted to the December meeting of ECOFIN in the document Savings-Report from the United Kingdom. 
Dawn Primarolo: In accordance with the conclusions of the European Council of Santa Maria da Feira in June 2000, before the savings directive can be adopted, the UK is required to give sufficient reassurances that its associated or dependent territories listed in the conclusions would adopt the same measures as EU member states. These territories are the Channel Islands, the Isle of Man, and the Caribbean Overseas Territories. Bermuda is not included in the list of dependent or associated territories agreed at the Feira European Council.
Mr. Graham Brady: To ask Mr Chancellor of the Exchequer what assessment he has made of the likely implications for movement of capital into and out of Cayman Islands financial institutions as a result of compliance with the EU Draft Savings Directive if Switzerland (a) agrees and (b) does not agree to be bound by the directive. 
Dawn Primarolo: The European Council meeting in Santa Maria de Feira on 20 June 2000 agreed that adoption of the EU draft Directive on Taxation of Savings was dependent on the EU receiving sufficient reassurances that relevant dependent or associated territories will adopt the same measures as EU Member States, and that six named third countries will adopt equivalent measures. The list of third countries includes Switzerland. The UK has sought the necessary reassurances from the dependent and associated territories only on the basis that equivalent measures are agreed with the named third countries.
12 Dec 2002 : Column 472W
John Healey: There is no VAT on the construction or purchase of new buildings that charities intend to use for residential or non-business purposes or as village halls. Long-standing formal agreements with our European partners do not enable us to introduce any new zero rates or a reduced rate of VAT for other works to existing non-residential buildings.
Mr. Boateng: There is some evidence to suggest that Government borrowing affects their cost relative to wholesale commercial borrowing rates (as measured by swap spreads). However, there is no clear-cut evidence of a significant impact of Government borrowing on commercial borrowing rates.
John Healey: Projected landfill tax receipts for the UK in 200203 and 200304 are shown in Table B12 of pre-Budget report 2002 (Cm 5664), and are #0.5 billion and #0.7 billion, respectively. For the financial years 200405 and 200607 projected landfill tax receipts for the UK are included in Xother taxes and royalties" in Table B11, and are not recorded separately.
John Healey: Cash receipts from the landfill tax are shown in the Office for National Statistics publication XFinancial Statistics". Landfill tax was introduced on 1 October 1996. Since 1 April 1997 the annual yield from landfill tax in the UK is as follows:
|Cash receipts (# million)|
12 Dec 2002 : Column 473W
|Revenue grants(22)||Capital grants(23)|
(22) 199798 to 200001 are outturn figures. 200102 and 200203 are budgeted figures.
(23) 199798 to 200001 are outturn figures. 200102 and 200203 are provisional figures.
199798 to 200001 RO and COR forms, 200102 and 200203 RA forms, 200102 CPR4 form and 200203 CER form.
Revenue funding consists of Revenue Support Grant, redistributed Non-Domestic Rates, Principal Formula Police Grant, SSA Reduction Grant, Central Support Protection Grant, GLA General Grant and Specific Grants within Aggregate external finance. Capital funding consists of Central Government Grant. Funding to the housing revenue account is not included.
|Next Section||Index||Home Page|