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26 Jan 2004 : Column 114W—continued

Lamfalussy Committee of Banking Supervisors

Mrs. Lawrence: To ask the Chancellor of the Exchequer if he will make a statement on the announcement on 20 January about the new Lamfalussy committee of banking supervisors. [151509]

Mr. Gordon Brown: I am delighted to inform the House that on 20 January EU Finance Ministers agreed to base the new Lamfalussy committee of banking supervisors ('CEBS') in London. The equivalent committee for securities supervisors ('CESR') will continue to be based in Paris and that for insurance ('CEIOPS') will be based in Frankfurt. The location of these regulatory committees in Europe's major financial centres is a good outcome for the UK and for financial markets in the EU. This high-level committee of EU banking supervisors and central banks will be a key forum for national authorities to improve supervisory practices and advance the EU's legislative agenda. It should help ensure that more flexible EU legislation is adopted quicker, with improved consultation, transparency, and greater input from market practitioners. This should help drive forward the EU Financial Services Action Plan, providing Europe with a more dynamic, innovative, efficient and competitive financial services sector, to the benefit of consumers and businesses. The banking committee will meet at least three times a year, and should meet in London for the first time in the spring. It has already assumed its responsibilities and is currently looking to secure permanent offices in London. The committee is currently chaired by Jose Maria Roldan, Director General of the Bank of Spain, and around forty senior regulators and central bankers will participate in its meetings.

National Insurance

Mr. Webb: To ask the Chancellor of the Exchequer if he will estimate the additional revenue to the Exchequer that would be generated by increasing the rate of Class 4 National Insurance contributions by 3 per cent. [150459]

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Dawn Primarolo: I refer the hon. Gentleman to the publication "Tax ready reckoner and tax reliefs, December 2003" which is available in the Library of the House and also on the Treasury website (http://www. trr.pdf). The figures exclude any estimate of behavioural response to the tax change.

26 Jan 2004 : Column 116W

Public Bodies

Keith Vaz: To ask the Chancellor of the Exchequer who the members of National Savings and Investments were on 1 January; what their term of office is in each case; and what their remuneration is. [151308]

Ruth Kelly: As of 1 January 2004, National Savings and Investments have six Executive Directors and four Non Executive Directors:

NameTerm of officeSalary(19)Bonus(19)
Alan Cook—Chief Executive5 years145–15010–15
Trevor Bayley—Finance Director5 years115–12010–15
Steve Owen—Partnerships and Operations DirectorPermanent85–9010–15
Gill Cattanach—Commercial DirectorPermanent90–9510–15
Sandra Postles—HP DirectorPermanent75–8010–15
John Prout—Sales DirectorPermanent95–10010–15
Richard Wright—Non Executive Director and Chair of the Board3 years15–200
Marie Stafford—Non Executive Director3 years10–150
Paul Spencer—Non Executive Director3 years10–150
Michael Medlicott—Non Executive Director3 years10–150

(19) As banded in our Annual Report and Accounts.

Public Service Contracts

Mr. Laxton: To ask the Chancellor of the Exchequer what progress has been made in the inquiry led by Mr. Alan Wood into the awarding of public service contracts in the EU; whether its remit includes awarding train franchises; and when he expects the inquiry to report. [150992]

Mr. Boateng: The Review was announced in the pre-Budget report on 10 December 2003. Work has now commenced and Mr. Wood will report in Summer 2004.

The Review's scope is all sectors covered by the EC Directives on public procurement in the fields of Services, Supplies and Works 1 .

Security Passes

Mr. Oaten: To ask the Chancellor of the Exchequer how many security passes have been reported (a) lost and (b) stolen by staff in (i) his Department and (ii) departmental agencies in the last 12 months, including the Inland Revenue and Her Majesty's Customs and Excise. [147982]

Ruth Kelly: The number of passes reported lost or stolen between 1 January and 31 December 2003 by staff and contractors in HM Treasury and departmental agencies can be found in the following table:

HM Treasury1253128
HM Customs and Excise(20)261541
Debt Management Office11011
The Government Actuary's Department808
Inland Revenuen/an/an/a
National Savings and Investments13417
Office of Government Commerce14317
OGC Buying Solutions000
Office of National Statistics1010101
Royal Mint(21)n/an/a11
Valuation Office Agency73477

(20) HM Customs and Excise figures cover their offices nationwide, but some losses and thefts may have been dealt with locally, and not reported to Head Office.

(21) Royal Mint do not keep separate records for losses and thefts.

Passes are invalidated as soon as they reported missing, so they cannot be used if found. The passes do not contain information identifying them to their respective building or organisation. Staff are regularly reminded of the importance of keeping their security pass safe, through the induction programmes and security awareness publicity.

Sport, Health and Fitness

Mr. Gardiner: To ask the Chancellor of the Exchequer (1) what assessment he has made of the benefit to the UK economy of (a) professional and (b) amateur sports in (i) 2001, (ii) 2002 and (iii) 2003; [149948]

Mr. Caborn: I have been asked to reply.

In June 2003, Sport England published the report, "The Value of the Sports Economy in England", which presented a summary of the value of the sports economy to the economy in England. The data in the report relates to 2000, the last year for which comprehensive data is available. The report found that sport generated more than £9.8 billion in value added to the economy in England, approximately 1.5 per cent. of total gross value added (GVA) for England. The breakdown according to sector is as follows:

Value added (£ million)
Commercial sport3,553
Of which:
Spectator sports709
Participation sports380
Sport-related manufacturing840
Commercial non-sport4,226
Of which:
Higher education establishments422
Voluntary sector1,215
Local Government844

26 Jan 2004 : Column 117W

Sports Clubs

Mr. Gardiner: To ask the Chancellor of the Exchequer (1) what estimate he has made of the financial benefit to amateur sports of setting the thresholds at which community clubs are exempt from corporation tax at £50,000; [149951]

John Healey: The doubling of the corporation tax exemption thresholds for community amateur sports clubs will remove the requirement to complete an annual tax return for eligible clubs enabling them to concentrate on the development of their clubs. The financial benefit to amateur sport clubs will depend on the financial circumstances of each club.

The financial benefits of mandatory rates relief for registered community amateur sports clubs will depend upon the size and structure of each club and whether it previously received discretionary rates relief from its local authority.

Standard Life

Dr. Cable: To ask the Chancellor of the Exchequer what representations his Department has received from policy holders regarding the future of Standard Life. [149728]

Ruth Kelly: I refer the hon. Gentleman to the answer I gave to my hon. Friend the Member for Preseli Pembrokeshire (Mrs. Lawrence) on 13 January 2004, Official Report, columns 634–35W. The Financial Services Authority has regulatory responsibility for Standard Life. I understand that no Standard Life policy holders have made representations to the Treasury concerning the future of Standard Life.

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