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8 Nov 2004 : Column 495W—continued
TREASURY
Accountancy Standards
David Taylor: To ask the Chancellor of the Exchequer what regulatory powers are available to the Financial Services Authority to uphold standards in (a) international accountancy and (b) international financial consultancy. [196404]
Mr. Timms: The FSA has no direct powers to uphold standards in international accountancy.
The FSA can take enforcement action against listed issuers who publish annual reports and accounts which breach the listing rule requirements regarding the making of misleading, false or deceptive announcements under listing rule 9.3A.
The Secretary of State for Trade and Industry has principal responsibility for oversight of audit. The Government intends to delegate this oversight role to the Professional Oversight Board for Accountancy of the Financial Reporting Council (FRC) early in 2005. The FRC has responsibilities for setting, monitoring and enforcing auditing and accounting standards and overseeing the regulatory activities of the professional accountancy bodies.
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With regard to international financial consultancy, unless the activity constitutes a regulated activity under the Financial Services and Markets Act 2000, the FSA has no locus in this area.
Average Earnings
Simon Hughes: To ask the Chancellor of the Exchequer what the average earnings were of full-time employees in (a) the North Southwark and Bermondsey constituency, (b) the Camberwell and Peckham constituency and (c) the Dulwich and West Norwood constituency in (i) April 1997, (ii) April 2001, (iii) April 2002, (iv) April 2003 and (v) April 2004. [194309]
Mr. Timms [holding answer 28 October 2004]: The information requested falls within the responsibility of the National Statistician, who has been asked to reply.
Letter from Len Cook to Mr. Simon Hughes, dated 8 November 2004:
As National Statistician I have been asked to reply to your recent Parliamentary Question asking what the average earnings for full time employees were in (a) the North Southwark and Bermondsey constituency, (b) the Camberwell and Peckham constituency and (c) the Dulwich and West Norwood constituency in (i) April 1997, (ii) April 2001, (iii) April 2002, (iv) April 2003 and (v) April 2004. (194309)
Average earnings are estimated from the Annual Survey of Hours and Earnings (ASHE) and are provided for full-time employees on adult rates of pay whose pay was unaffected by absence during the pay period, by their place of work. This is the standard definition used for ASHE tables. The ASHE does not collect data on the self employed and people who do unpaid work.
I attach a table showing the average gross weekly wage for full time employees in the North Southwark and Bermondsey constituency, the Camberwell and Peckham constituency and the Dulwich and West Norwood constituency for 2001 to 2004.
Data for 1997 is currently only available from a different survey which is discontinuous with the Annual Survey of Hours and Earnings (ASHE). Data from ASHE will not be available until later 2004 following a QA process.
The ASHE, carried out in April of each year, is the most comprehensive source of earnings information in the United Kingdom. It is a one per cent sample of all employees who are members of pay-as-you-earn (PAYE) schemes, but because of its sampling frame, it has difficulty capturing data on people with very low pay. It is therefore likely to under-represent relatively low paid staff earning below the tax threshold.
The Annual Survey of Hours and Earnings publication criteria ensures that all estimates are undisclosive. A number of estimates have been removed from the published tables for these reasons.
Data Source:
Annual Survey of Hours and Earnings, ONS
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(7) Key to quality:
Precise: CV} 5%, reasonably precise: CV> 5% and } 10%, Acceptable: CV > 10% and } 20%
Notes:
Data for 1997 is currently only available from a different survey which is discontinuous with the Annual Survey of Hours and Earnings (ASHE). Data from ASHE will not be available until later 2004 following a QA process.
The table provides data on the average gross weekly earnings for full time employees on adult rates of pay whose pay for the pay period was unaffected by absence, who worked in North Southwark and Bermondsey, Camberwell and Peckham and Dulwich or West Norwood, for the years 2001 to 2004.
The Annual Survey of Hours and Earnings, (ASHE), carried out in April of each year, is the most comprehensive source of earnings information in the United Kingdom. It is a one per cent sample of all employees who are members of pay-as-you-earn (PAYE) schemes.
The ASHE replaces the New Earnings Survey (NES) from October 2004. The main difference between the ASHE and NES being that estimates are weighted to population totals from the Labour Force Survey.
Gross weekly earnings for Adult Full-Time Employees whose pay for the survey period was not affected by absence.
ASHE results for 2004 have been produced on 2 separate basis. Firstly a similar basis to 2003 for comparison purposes labelled as 2004exc and also including a range of new supplementary surveys designed to improve the coverage labelled 2004inc, which is our best estimates of the level of earnings in 2004.
Data Source:
Annual Survey of Hours and Earnings, ONS
Keith Vaz: To ask the Chancellor of the Exchequer what the latest figures are for average earnings of (a) women and (b) men in the UK. [196018]
Mr. Timms: The information requested falls within the responsibility of National Statistician, who has been asked to reply.
Letter from Len Cook to Keith Vaz, dated 8 November 2004:
As National Statistician, I have been asked to reply to your recent Parliamentary Question what the latest figures are for average earnings of (a) women and (b) men in the UK. (196018).
Average earnings are estimated from the Annual Survey of Hours and Earnings and are provided for full-time employees on adult rates of pay whose pay was unaffected by absence during the pay period, by their place of work. This is the standard definition used for Annual Survey of Hours and Earnings tables. The survey does not collect data on the self-employed and people who do unpaid work.
The median gross weekly earnings in 2004 for women was £358.0 and £462.0 for men. The mean gross weekly earnings in 2004 for women was £420.2 and £556.8 for men.
This data is available on the statistics web site: http://www.statistics.gov.uk/STATBASE/Product.asp?vlnk=13101.
The Annual Survey of Hours and Earnings, carried out in April of each year, is the most comprehensive source of earnings information in the United Kingdom. It is a one per cent sample of all employees who are members of pay-as-you-earn schemes, but because of its sampling frame, it has difficulty capturing data on people with very low pay. It is therefore likely to under-represent relatively low paid staff earning below the tax threshold.
The Annual Survey of Hours and Earnings publication criteria ensures that all estimates are undisclosive. A number of estimates have been removed from the published tables for these reasons.
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