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Nuclear Materials

The Parliamentary Under-Secretary of State for Trade and Industry (Nigel Griffiths): The Department will be placing the figures for the United Kingdom's stocks of civil plutonium and uranium as at 31 December 2002 in the Library of the House. In accordance with our commitment under the "Guidelines for the Management of Plutonium", we will also be sending the figures to the Director General of the International Atomic Energy Agency (IAEA), who will circulate them to member states in due course. The figures will be available on the Department's and the IAEA's websites.

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The figures show that stocks of unirradiated plutonium in the UK totalled 90.8 tonnes at the end of 2002. Major changes from the corresponding figures for 2001 are a consequence of continuing reactor and reprocessing operations (e.g. as reflected in the increased quantity of "unirradiated separated plutonium in product stores at reprocessing plants". Other, smaller, changes are because of the return of MOX fuel from Japan and a review of reporting categories for some of the plutonium inventories concerned. The latter has resulted in plutonium present as "work in progress" at reprocessing plants being split so that separated material in the plutonium finishing lines is reported in the category "unirradiated separated plutonium held elsewhere" along with small quantities of plutonium in material forms for which current plans envisage re-cycle via reprocessing but which is not in the form of spent fuel.

International Accounting Standards

The Minister for Industry and the Regions (Jacqui Smith): On 26 November 2002 the consultation period on the possible extension of the European Regulation on the application of International Accounting Standards ("the Regulation") ended. The Regulation requires EU companies whose securities are admitted to trading on EU regulated markets to prepare their consolidated accounts on the basis of International Accounting Standards (as adopted by the European Commission) from 2005. The Regulation includes Member State options to extend its application to any other class or classes of company, and to the individual accounts of publicly traded companies, on either a permissive or a mandatory basis.

Having considered the responses to the consultation, I am announcing today that the Regulation will be extended by permitting publicly traded companies to use adopted International Accounting Standards in their annual accounts. All other companies will also be permitted to use adopted International Accounting Standards, in both their annual and consolidated accounts. Limited Liability Partnerships will be treated in the same way.

This approach is consistent with the UK's long held support of the idea of common, internationally accepted standards. Companies will be able to switch to International Accounting Standards based on their own circumstances, when the benefits outweigh the costs. No additional burden will be imposed; burdens on publicly traded groups may be reduced, as they will be able to use the same standards in both their consolidated and subsidiary accounts.

I have decided against mandatory extension for the time being, mainly because it would impose burdens. In particular, International Accounting Standards do not as yet offer a simplified regime for smaller companies comparable to that provided by the UK system. Also, International Accounting Standards are in a state of transition and their impact on companies' profits (and tax liabilities) is therefore uncertain at present.

None-the-less, it is clearly preferable that all UK companies use the same standards in due course. I therefore propose to review the impact of the Regulation around 2008 and decide if the time is right

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to move to mandatory use of International Accounting Standards. Time is needed for International Accounting Standards to become settled and established, for the development of a regime for smaller companies, and for companies and auditors to become more familiar with these standards.

My Department will consult by early next year on draft regulations to make necessary amendments to the Companies Act 1985.

Regional Development Agencies

The Minister for Industry and the Regions (Jacqui Smith): The Annual Reports and Accounts for 2002–03 for the eight RDAs outside London have been published today. Copies have been placed in the Library. These cover the period immediately following the introduction of the single Budget in April 2002. The Government welcome the achievements of the RDAs during the year.

Council of Science and Technology

The Secretary of State for Trade and Industry (Ms Patricia Hewitt): The Office of Science and Technology undertook a quinquennial review of the Council for Science and Technology in 2002. I received the final report of the review in December 2002.

The Government broadly accept the recommendations of the review. Further work was however needed to decide how it should be followed up. That work is now complete. Copies of the final report of the review, together with details of the Government's plans for CST's future have today been laid in the Library of the House and published on OST's website www.ost.gov.uk.

Amongst other things, the Government have revised CST's terms of reference to make clearer the broad, cross-cutting nature of its remit. CST's new terms of reference are:

To advise the Prime Minister ¹ on the strategic policies and framework for:

sustaining and developing science, engineering and technology (SET) in the UK, and promoting international co-operation in SET;


fostering the practice and perception of science, engineering and technology as an integral part of the culture of the UK;


promoting excellence in SET education;


making more effective use of research and scientific advice in the development and delivery of policy and public services across Government; and


promoting SET-based innovation in business and the public services to promote the sustainable development of the UK economy, the health and quality of life of UK citizens, and global sustainable development.

The Council will work on cross-cutting issues of strategic importance, taking a medium to longer term approach. In developing its advice it will take into account the cultural, economic, environmental, ethical and social context of developments in SET.

¹ And possibly the First Ministers of the Devolved Administrations, depending on the outcome of discussions with those Administrations.

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ENVIRONMENT, FOOD AND RURAL AFFAIRS

Sustainable Development (Government Estate)

The Parliamentary Under-Secretary of State for Environment, Food and Rural Affairs (Mr. Ben Bradshaw): The Government intend to publish, the fourth part of the Framework for Sustainable Development on the Government Estate on Biodiversity at the end of July or early August. This will be available from the Sustainable Development in Government website. Copies of the website, on CD-Rom, will be placed in the Libraries of both Houses.

The Biodiversity section of the Framework breaks new ground as this is the first time that cross-Government targets have been set covering issues such as the condition of Government owned SSSIs, and a requirement for new building and refurbishment contracts to take account of biodiversity.

Our ongoing work on the Framework defines a set of cross-Government targets for Sustainable development, and outlines the mechanisms by which Departments will be expected to achieve them. These challenging targets give a clear indication of the Government's continued determination to take a lead in the practical implementation and achievement of Sustainable development.

The Framework for Sustainable Development on the Government Estate can be viewed at www.sustainable-development.gov.uk/sdig/improving/index.htm

LEADER OF THE HOUSE

Select Committee Chairmen (Pay)

The Leader of the House of Commons (Mr. Peter Hain): Following the debate in the House on 14 May 2002 on the First Report of the Select Committee on Modernisation of the House of Commons, HC 224-I, Session 2001–02, relating to Select Committees, the House resolved "That, in the opinion of this House, the Review Body on Senior Salaries should be invited to consider what additional remuneration is appropriate for Chairmen of Select Committees".

The Review Body have now reported and I have today laid before the House a copy of their report entitled Pay for Select Committee Chairmen in the House of Commons (Cm 5673). Copies are available in the Vote Office and in the Libraries of the House. I would like to put on record my thanks to the SSRB's Chairman (John Baker CBE) and its members for its analysis on the matter. The SSRB has recommended an extra payment of £12,500 per annum to the Chairmen of departmental and externally focused "cross-departmental" select committees, stating that the final decision on which committees to include should be determined by the House itself.

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The SSRB has also recommended that payment should not be implemented until the House has decided its approach to the issue of Chairmen's outside interests. I have asked the Chairman of the Committee on Standards and Privileges whether his Committee would look into the matter and report its findings to the House in the autumn. Members will now have the summer recess to consider the report's recommendations. I intend to discuss the matter widely and reflect on Members' views before deciding on the terms of the motion to be put before the House in the autumn.

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