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13 Jun 2003 : Column 1104W—continued
EU Consumer Credit Directive
Mr. Battle: To ask the Secretary of State for Trade and Industry what the Government's position is on the proposed EU Directive on Consumer Credit (Draft September 2002); and if she will make a statement. [114381]
Miss Melanie Johnson: The Government supports the Commission's overall objective of creating an internal market that provides a high level of consumer protection enabling consumers to shop cross border with confidence and lenders to trade with legal certainty. However, we have serious concerns about the current draft delivering this objective and believe it needs substantial change.
We aim to secure recognition that mortgages require significantly different regulation than other forms of consumer credit and therefore should be outside the scope of the Directive. We also recognise that the Directive would prove a significant burden on credit unions and are therefore seeking to exclude them from the scope of the Directive.
We are fighting hard to ensure that we maintain the joint and several liability protections that currently govern credit card use in the UK and are highly valued by consumers.
Executive Pay
Dr. Cable: To ask the Secretary of State for Trade and Industry what action she has taken since 1997 to address excessive executive remuneration. [117714]
Miss Melanie Johnson: In May 1999 the Government commissioned a review of compliance by quoted companies with the Greenbury Code of Best Practice and the Combined Code. Subsequently, a consultation document "Directors' Remuneration" was issued in July 1999 setting out proposals for strengthening the legislative framework. In December 2001 the Government issued a consultation document which sought views on draft legislation. This legislation (The Directors' Remuneration Report Regulations 2002) came into force on 1 August 2002 and applies to quoted
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companies with financial years ending on or after 31 December 2002. The regulations significantly enhance requirements relating to disclosure of directors' remuneration, particularly with regard to policy matters, and provide for an annual shareholder vote on the Directors' Remuneration Report.
Most recently, on 2 June this year, the Government issued a consultation document entitled "Directors' Remuneration—Contracts, Performance and Severance", seeking views on a range of options to improve the linkage between compensation and performance when contracts are terminated.
Export Credits Guarantee Department
Malcolm Bruce: To ask the Secretary of State for Trade and Industry which international environmental standard requirements the ECGD imposes on companies seeking loans; and which environmental standard requirements on these companies originate from the UK Government. [117194]
Ms Hewitt: ECGD requires as a minimum that all projects, goods or services comply with host country legislation, regulations and standards. In addition, ECGD normally expects the projects it supports to comply with World Bank Group environmental guidelines and relevant safeguard policies.
Alternatively, ECGD may accept other relevant internationally recognised standards including those of the UK, EU, WHO, World Bank, IFC and relevant regional development banks.
Host country or project standards that are below international standards would normally be unacceptable and, in line with the World Bank Guidelines, would need site specific justification.
UK Government policy is that ECGD should use the environmental guidelines and standards developed by the international financial institutions identified above rather than developing its own standards.
Ferries
Mr. Peter Duncan: To ask the Secretary of State for Trade and Industry what discussions her Department has had with (a) P & O and (b) Stena Line on competition policy issues on the North Channel crossing from Loch Ryan ports to Northern Ireland. [115810]
13 Jun 2003 : Column 1106W
Foundries
Syd Rapson: To ask the Secretary of State for Trade and Industry how many people are employed in the UK foundry sector; and if she will make a statement on the contribution of the foundry sector to domestic GDP. [118811]
Alan Johnson: The latest available official data is for 2001 which gives employment in the foundry sector in December of that year as 29,000 1 . The contribution of the foundry industry to GDP in 2001 was 0.1 per cent. (provisional) 2 .
These figures relate to businesses classified by the ONS to SIC code 27.5 "casting of metals". They omit casting activities by in-house foundries which belong to a parent company whose main business is other than casting.
- Source:
Syd Rapson: To ask the Secretary of State for Trade and Industry how many jobs have been lost in the foundry sector in the past (a) year, (b) five years and (c) 10 years. [118812]
Alan Johnson: Data on employment in the foundry industry since 1993 are as shown in the table. Figures are not available for the past year.
| Number | |
|---|---|
| 1993 | 38,000 |
| 1994 | 38,000 |
| 1995 | 38,000 |
| 1996 | 38,000 |
| 1997 | 38,000 |
| 1998 | 35,000 |
| 1999 | 33,000 |
| 2000 | 32,000 |
| 2001 | 29,000 |
Note:
Approximate net change over the past 10 years: -9,000
Approximate change from 1998–2001: -6,000
Source:
1993–1997: Annual Census of Production
1998–2001: Annual Business Survey
Syd Rapson: To ask the Secretary of State for Trade and Industry how many foundries have ceased trading in the past (a) year, (b) five years and (c) 10 years. [118813]
Alan Johnson: Data are available for the net change in numbers of foundries, not for the numbers that have ceased trading. Information is available for 1996 to 2002, as follows.
(5) Local units (that is, individual sites). All figures are rounded to nearest 5.
(6) All changes are approximate because they are calculated from rounded data.Source:
National Statistics, Size Analysis of United Kingdom Businesses, based on Interdepartmental Business Register
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| Region | End of March 2003 |
|---|---|
| East Midlands | 7 |
| East of England | 11 |
| London | 11 |
| North East | 4 |
| North West | 10 |
| Northern Ireland | 0 |
| Scotland | 8 |
| South East | 19 |
| South West | 9 |
| Wales | 9 |
| West Midlands | 7 |
| Yorkshire and Humberside | 7 |
| Total | 102 |
13 Jun 2003 : Column 1109W
Mr. Cox: To ask the Secretary of State for Trade and Industry how many (a) post offices and (b) sub-post offices have been closed within the Greater London area in each of the last three years. [117152]
Mr. Timms: I understand from Post Office Ltd. that as at the end of each of the last three financial years, the number of post office closures in London was as follows:
- 2000–01—10
2001–02—16
2002–03—44
Mr. Cox: To ask the Secretary of State for Trade and Industry how much time is allotted for public consultation on the proposed closure of post offices within the Greater London area. [117153]
Mr. Timms: In accordance with the Code of Practice on Post Office Closures and Relocations—agreed between Post Office Ltd and the consumer body Postwatch—a period of not less than one calendar month is allowed for consultation on a proposed post office closure.
Mr. Burstow: To ask the Secretary of State for Trade and Industry how many post office branch closures over the last 12 months have been opposed by Postwatch; if he will list them; and how many of these post offices have (a) remained open, (b) had the decision to close postponed and (c) been closed or set for closure. [117270]
Mr. Timms: Decisions on post office closure proposals under the urban reinvention programme are an operational matter for Post Office Ltd. and I have asked the Chief Executive to reply direct to the hon. Member.
Dr. Cable: To ask the Secretary of State for Trade and Industry how many post offices (a) have closed since 1 January 2001, and (b) are subject to consultation on closure, broken down by parliamentary constituency; and if she will make a statement. [117715]
Mr. Timms: Decisions on post office closure proposals under the urban reinvention programme are an operational matter for Post Office Ltd. and I have asked the Chief Executive to reply direct to the hon. Member.
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