|
Tuesday 2 December 2003
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb | | John Mann Mr James Plaskitt Mr David Ruffley |
The Committee deliberated.
Ordered, That Dr Robert Hunt be appointed as a Specialist Adviser to assist the Committee in matters relating to credit card charges.
Restoring confidence in long-term savings: Ms Teresa Perchard, Head of Social Policy, National Association of Citizens Advice Bureaux, Ms Louise Hanson, Senior Public Affairs Officer, Mr Mick McAteer, Senior Public Adviser, Consumers' Association, Ms Anne Foster, Chairman, and Mr Dave Watts, Member, Financial Services Consumer Panel, were examined.
Restoring confidence in long-term savings: Mr John Tiner, Chief Executive, Financial Services Authority, and Mr Walter Merricks, Chief Ombudsman, Financial Ombudsman Service, were examined.
[Adjourned till Wednesday 10 December at 9.15 am.
Wednesday 10 December 2003
[Morning meeting]
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Michael Fallon Norman Lamb | | John Mann Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Draft Report (Transparency of credit card changes), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 and 2 read, amended and agreed to.
Paragraph 3 read and agreed to.
Paragraphs 4 to 7 read, amended and agreed to.
Paragraphs 8 to 10 read and agreed to.
Paragraphs 11 to 15 read, amended and agreed to.
Paragraphs 16 and 17 read and agreed to.
Paragraphs 18 and 19 read, amended and agreed to.
Paragraphs 20 and 21 read and agreed to.
Paragraph 22 read, amended and agreed to.
Paragraphs 23 and 24 read and agreed to.
Paragraphs 25 to 27 read, amended and agreed to.
Paragraphs 28 to 30 read and agreed to.
Paragraph 31 read, amended and agreed to.
Paragraphs 32 to 34 read and agreed to.
Paragraph 35 read, amended and agreed to.
Paragraphs 36 to 38 read and agreed to.
Paragraph 39 read, amended and agreed to.
Paragraph 40 read and agreed to.
Paragraph 41 read, amended and agreed to.
Paragraphs 42 and 43 read and agreed to.
Paragraph 44 read, amended and agreed to.
Paragraph 45 read and agreed to.
Paragraph 46 read, amended and agreed to.
Paragraphs 47 to 50 read and agreed to.
Paragraphs 51 and 52 read, amended and agreed to.
Paragraph 53 read and agreed to.
Paragraph 54 read, amended and agreed to.
Paragraph 55 read and agreed to.
Paragraphs 56 and 57 read, amended and agreed to.
Paragraph 58 read and agreed to.
Paragraph 59 read, amended and agreed to.
Paragraphs 60 to 64 read and agreed to.
Paragraphs 65 to 67 read, amended and agreed to.
Paragraph 68 read and agreed to.
Paragraph 69 read, amended and agreed to.
Paragraph 70 read and agreed to.
Paragraphs 71 and 72 read, amended and agreed to.
Paragraph 73 read and agreed to.
Paragraphs 74 and 75 read, amended and agreed to.
Paragraph 76 read and agreed to.
Paragraph 77 read, amended and agreed to.
Paragraphs 78 to 81 read and agreed to.
Paragraphs 82 and 83 read, amended and agreed to.
Paragraph 84 read and agreed to.
Paragraph 85 read, amended and agreed to.
Paragraph 86 read and agreed to.
Paragraphs 87 and 88 read, amended and agreed to.
Paragraphs 89 and 90 read and agreed to.
Paragraph 91 read, amended and agreed to.
Paragraphs 92 and 93 read and agreed to.
Paragraphs 94 and 95 read, amended and agreed to.
Paragraphs 96 to 98 read and agreed to.
Paragraphs 99 and 100 read, amended and agreed to.
Paragraphs 101 and 102 read and agreed to.
Paragraph 103 read, amended and agreed to.
Paragraph 104 read and agreed to.
Paragraph 105 read, amended and agreed to.
Paragraphs 106 to 110 read and agreed to.
Paragraph 111 read, amended and agreed to.
Paragraph 112 read and agreed to.
Paragraph 113 read, amended, divided and agreed to (now paragraphs 113 and 114).
Paragraphs 114 to 116 read, amended and agreed to (now paragraphs 115 to 117).
Paragraphs 117 and 118 read and agreed to (now paragraphs 118 and 119).
Paragraph 119 read, amended and agreed to (now paragraph 120).
Paragraphs 120 and 121 read and agreed to (now paragraphs 121 and 122).
Paragraph 122 read, amended and agreed to (now paragraph 123).
Paragraph 123 read and agreed to (now paragraph 124).
Paragraph 124 read, amended and agreed to (now paragraph 125).
Paragraphs 125 and 126 read and agreed to (now paragraphs 126 and 127).
Paragraph 127 read, amended and agreed to (now paragraph 128).
Paragraphs 128 to 131 read and agreed to (now paragraphs 129 to 132).
Paragraph 132 read, amended and agreed to (now paragraph 133).
Paragraphs 133 to 137 read and agreed to (now paragraphs 134 to 138).
Paragraph 138 read, amended and agreed to (now paragraph 139).
A paragraph—(Mr Nigel Beard)—brought up, read the first and second time, and inserted (now paragraph 140).
A paragraph—(Mr Nigel Beard)—brought up, read the first and second time, amended and inserted (now paragraph 141).
Summary, as amended, agreed to.
Resolved, That the Report be the First Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the provisions of Standing Order No. 134 (Select committees (reports)) be applied to the Report.
Several papers were ordered to be appended to the Minutes of Evidence.
Ordered, That the Appendices to the Minutes of Evidence taken before the Committee be reported to the House.
Several Memoranda were ordered to be reported to the House.
[Adjourned till this day at the conclusion of the meeting of the Sub-committee.
Wednesday 10 December 2003
[Afternoon meeting]
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Norman Lamb Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Draft Report from the Sub-committee (Child Trust Funds), brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 63 read and agreed to.
Resolved, That the Report be the Second Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the provisions of Standing Order No. 134 (Select committees (reports)) be applied to the Report.
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the House.—(The Chairman.)
[Adjourned till Monday 15 December at 3.45 pm.
Monday 15 December 2003
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Norman Lamb | | John Mann Mr George Mudie Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Mr Robert Walter, on his appointment to the Committee, declared the interests listed in the Register of Members' Interests.
The 2003 Pre-Budget Report: Mr Robert Chote, Professor Peter Spencer, Mr David Walton, and Mr Martin Weale, were examined.
In the absence of the Chairman, Mr Michael Fallon was called to the Chair
[Adjourned till Tuesday 16 December at 9.15 am.
Tuesday 16 December 2003
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon John Mann | | Mr George Mudie Mr James Plaskit Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Resolved, That the Committee do visit Germany in connection with its inquiry into Regional productivity.—(The Chairman)
Ordered, That the Chairman do seek the approval of the Liaison Committee for expenditure in connection with the said visit.—(The Chairman)
The 2003 Pre-Budget Report: Mr Jon Cunliffe, Managing Director, Macroeconomic Policy and International Finance, Mr Nicholas Holgate, Director, Welfare Reform, Mr John Kingman, Head of Enterprise and Growth Unit, Mr Jonathan Stephens, Director, Public Spending, Mr Andrew Lewis, Head of Tax Policy Team, HM Treasury were examined.
[Adjourned till Thursday 18 December at 9.15 am.
Thursday 18 December 2003
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Mr Michael Fallon John Mann | | Mr George Mudie Mr James Plaskit Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
The 2003 Pre-Budget Report: Rt Hon Gordon Brown, a Member of the House and Chancellor of the Exchequer, Mr Ed Balls, Chief Economic Adviser were examined, Mr Jon Cunliffe, Managing Director, Macroeconomic Policy and International Finance, Mr Nicholas Holgate, Director, Welfare Reform, Mr Jonathan Stephens, Director, Public Spending, and Mr Andrew Lewis, Head of Tax Policy Team, HM Treasury, were further examined.
[Adjourned till Tuesday 13 January at 9.15 am.
Tuesday 13 January 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Mr Michael Fallon Norman Lamb John Mann | | Mr George Mudie Mr James Plaskitt Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Resolved, That the Committee do visit the USA in relation to work on the US and the international economy, regulatory issues and regional productivity.—(The Chairman.)
Ordered, That the Chairman do seek the approval of the Liaison Committee for expenditure in connection with the said visit.—(The Chairman.)
Resolved, That evidence be taken from Lord Penrose and from the Treasury on the outcome of Lord Penrose's inquiry into Equitable Life.—(The Chairman.)
Draft Report (The 2003 Pre-Budget Report), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time paragraph by paragraph.
Paragraph 1 read and agreed to.
Paragraphs 2 to 6 read, amended and agreed to.
Paragraphs 7 and 8 read and agreed to.
Paragraph 9 read, amended and agreed to.
Paragraphs 10 and 11 read and agreed to.
Paragraphs 12 and 13 read, amended and agreed to.
Paragraph 14 read and agreed to.
Paragraphs 15 to 22 read, amended and agreed to.
Paragraph 23 read and agreed to.
Paragraphs 24 and 25 read, amended and agreed to.
Paragraph 26 read and agreed to.
Paragraph 27 read, amended and agreed to.
Paragraph 28 read and agreed to.
Paragraphs 29 to 31 read, amended and agreed to.
Paragraphs 32 to 34 read and agreed to.
Paragraphs 35 to 38 read, amended and agreed to.
Paragraph 39 read and agreed to.
Paragraphs 40 to 45 read, amended and agreed to.
A paragraph—(Mr Nigel Beard)—brought up, read the first and second time, and inserted
(now paragraph 46).
Paragraphs 46 to 48 read, amended and agreed to (now paragraphs 47 to 49).
Paragraph 49 read and agreed to (now paragraph 50).
Paragraph 50 read, amended and agreed to ( now paragraph 51).
Paragraphs 51 and 52 read and agreed to (now paragraphs 52 and 53).
Paragraph 53 read, amended and agreed to (now paragraph 54).
Paragraph 54 read and agreed to (now paragraph 55).
Paragraph 55 read, amended, divided and agreed to (now paragraphs 56 and 57).
Paragraphs 56 to 60 read and agreed to (now paragraphs 58 to 62).
A paragraph—(Mr Nigel Beard)—brought up, read the first and second time, and added
(now paragraph 63).
Summary read, amended and agreed to.
Resolved, That the Report be the Third Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the provisions of Standing Order No. 134 (Select committees (reports)) be applied to the Report.
Several papers were ordered to be appended to the Minutes of Evidence.
Ordered, That the Appendices to the Minutes of Evidence taken before the Committee be reported to the House.
[Adjourned till Thursday 22 January at 9.30 am.
Thursday 22 January 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Norman Lamb | | Mr James Plaskitt Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Ordered, That those who submit memoranda accepted as evidence by the Committee to the inquiry into Restoring confidence in long-term savings have leave to publish them in accordance with the provisions of Standing Order No 135(1).—(The Chairman.)
Restoring confidence in long-term savings: Mr Paul Myners and Mr Ron Sandler were examined.
[Adjourned till Tuesday 27 January at 9.15 am.
Tuesday 27 January 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Norman Lamb | | Mr James Plaskitt Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Notice having been taken of the decision by the Sub-committee to travel to the Netherlands in connection with its inquiry into the administrative costs of tax compliance;
Ordered, That the Chairman do seek the approval of the Liaison Committee for expenditure in connection with the said visit.—(The Chairman.)
Resolved, That the proposals in the letter of 13 January 2004 from the Chief Secretary to the Treasury (plus Annexes) and the Memorandum by the Clerk Assistant of 19 January 2004, for changes to the House's Supply procedures and the Estimates, be agreed, except for the proposal at page 3 of Annex B to the Chief Secretary's letter that changes to Departmental Expenditure Limits should no longer be notified to the House in written statements.—(The Chairman.)
Restoring confidence in long-term savings: endowment mortgages: Mr Sandy Crombie, Group Chief Executive, Standard Life, Mr Jonathan Bloomer, Group Chief Executive, Prudential PLC, Mr David Prosser, Group Chief Executive, Legal & General, Mr Richard Harvey, Group Chief Executive, Aviva, and Mr Andy Haste, Group Chief Executive, Royal & Sun Alliance, were examined.
[Adjourned till Tuesday 3 February at 9.15 am.
Tuesday 3 February 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Norman Lamb John Mann | | Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Resolved, That the Committee do inquire into the 2004 Budget.—(The Chairman.)
Regional productivity: Mr Nick Macpherson, Director of Public Services, Ms Ros Dunn, Head of Devolved Countries and Regions Team, HM Treasury, Mr Rob Smith, Director General, Regional Co-ordination Unit, Mr Philip Cox, Office of the Deputy Prime Minister, and Mr Mark Gibson, Director General, Business Group, Department of Trade and Industry, were examined.
In the absence of the Chairman, Mr Nigel Beard was called to the Chair.
[Adjourned till Tuesday 24 February at 9.15 am.
Tuesday 24 February 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Norman Lamb | | Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Draft Report (Annual Report for 2003), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 and 2 read and agreed to.
Paragraph 3 read, amended and agreed to.
Paragraphs 4 to 25 read and agreed to.
Annex agreed to.
Resolved, That the Report be the Fourth Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the First Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the response to the Second Report from the Committee [Child Trust Funds] be appended to the Report.—(The Chairman.)
[Adjourned till Wednesday 25 February at the conclusion of the meeting of the Sub-committee.
Wednesday 25 February 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Mr Michael Fallon Norman Lamb | | Mr James Plaskitt Mr David Ruffley Mr Robert Walter |
The Committee deliberated.
Draft Report (Restoring confidence in long-term savings: Endowment mortgages), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.
Paragraph 1 read, amended and agreed to.
Paragraphs 2 to 6 read and agreed to.
Paragraph 7 read, amended and agreed to.
Paragraphs 8 to 24 read and agreed to.
Paragraph 25 read, amended and agreed to.
Paragraphs 26 to 31 read and agreed to.
Paragraph 32 read, amended and agreed to.
Paragraphs 33 to 52 read and agreed to.
Paragraph 53 read, amended and agreed to.
Paragraphs 54 to 59 read and agreed to.
Paragraph 60 read, amended and agreed to.
Paragraphs 61 to 74 read and agreed to.
Paragraph 75 read, amended and agreed to.
Paragraphs 76 and 77 read and disagreed to.
Paragraphs 78 to 83 read and agreed to (now paragraphs 76 to 81).
Summary read, amended and agreed to.
Resolved, That the Report be the Fifth Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the provisions of Standing Order No. 134 (Select committees (reports)) be applied to the Report.
[Adjourned to a day and time to be fixed by the Chairman.
Tuesday 9 March 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins | | Mr Michael Fallon Norman Lamb |
The Committee deliberated.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Second Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the responses to the First Report from the Committee [Credit card charges] be appended to the Report.—(The Chairman.)
Notice having been taken of the decision by the Sub-committee to travel to Denmark in connection with its inquiry into the administrative costs of tax compliance;
Ordered, That the Chairman do seek the approval of the Liaison Committee for expenditure in connection with the said visit.—(The Chairman.)
[Adjourned till Tuesday 16 March at 9.15 am.
Tuesday 16 March 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Norman Lamb | | John Mann Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Equitable Life: The Right Honourable Lord Penrose and Mr Hugh Burns, Equitable Life inquiry, were examined.
Equitable Life: Ruth Kelly, a Member of the House and Financial Secretary, Mr Phil Wynn Owen, Director, Financial Services, Mr Paul Kirkman, Head of Savings and Investment Product Team, and Mr John Breckenridge, Adviser, Savings and Investment Product Team, HM Treasury, were examined.
[Adjourned till Tuesday 23 March at 9.15 am.
Tuesday 23 March 2004
[MORNING SITTING]
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Mr David Heathcoat-Amory, on his appointment to the Committee, declared the interests listed in the Register of Members' Interests.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Third Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the responses to the Third Report from the Committee [2003 Pre-Budget Report] be appended to the Report.—(The Chairman)
Budget 2004: Mr Ciarán Barr, Deutsche Bank, Mr Robert Chote, Institute for Fiscal Studies, Professor Peter Spencer, York University, Mr Edward Troup, Simmons & Simmons, Mr Martin Weale, National Institute of Economic & Social Research, and Mr John Whiting, PricewaterhouseCoopers were examined.
[Adjourned till this day at 2.15 pm.
Tuesday 23 March 2004
[AFTERNOON SITTING]
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Budget 2004: Mr Jon Cunliffe, Managing Director, Macroeconomic Policy and International Finance, Mr Nicholas Holgate, Director, Welfare Reform, Mr John Kingman, Director, Enterprise and Growth Unit, Mr Jonathan Stephens, Director, Public Spending, and Mr Andrew Lewis, Head of Tax Policy Team, HM Treasury, were examined.
[Adjourned till Wednesday 24 March at 1.45 pm.
Wednesday 24 March 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Budget 2004: Rt Hon Gordon Brown, a Member of the House and Chancellor of the Exchequer, Mr Ed Balls, Chief Economic Adviser were examined, Mr Jon Cunliffe, Managing Director, Macroeconomic Policy and International Finance, Mr Nicholas Holgate, Director, Welfare Reform, Mr John Kingman, Director, Enterprise and Growth Unit, Mr Jonathan Stephens, Director, Public Spending, and Mr Andrew Lewis, Head of Tax Policy Team, HM Treasury were further examined.
[Adjourned till Thursday 25 March at 9.15 am.
Thursday 25 March 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Bank of England February Inflation Report 2004: Mr Mervyn King, Governor of the Bank of England, Ms Rachel Lomax, Deputy Governor Monetary Policy, Sir Andrew Large, Deputy Governor Financial Stability, Ms Marian Bell and Ms Kate Barker, members of the Monetary Policy Committee, were examined.
[Adjourned till Wednesday 31 March at 2.30 pm.
Wednesday 31 March 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr George Mudie Mr Robert Walter |
The Committee deliberated.
Draft Report (The 2004 Budget), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 4 read and agreed to.
Paragraphs 5 and 6 read, amended and agreed to.
Paragraph 7 read and agreed to.
Paragraphs 8 and 9 read, amended and agreed to.
Paragraphs 10 to 13 read and agreed to.
Paragraph 14 read, amended and agreed to.
Paragraphs 15 to 17 read and agreed to.
Paragraph 18 read, amended and agreed to.
Paragraphs 19 to 23 read and agreed to.
Paragraphs 24 to 26 read, amended and agreed to.
Paragraph 27 read and agreed to.
Paragraph 28 read, amended and agreed to.
Paragraph 29 read and agreed to.
Paragraphs 30 and 31 read, amended and agreed to.
Paragraphs 32 and 33 read and agreed to.
Paragraph 34 read, amended and agreed to.
Paragraphs 35 to 45 read and agreed to.
Paragraph 46 read, amended and agreed to.
Paragraphs 47 to 51 read and agreed to.
Paragraphs 52 and 53 read, amended and agreed to.
Paragraphs—(The Chairman)—brought up, read the first and second time, and inserted (now paragraphs 54 to 56).
Paragraphs 54 to 59 read and agreed to (now paragraphs 57 to 62).
Paragraphs 60 to 63 read, amended and agreed to (now paragraphs 63 to 66).
A paragraph—(Mr George Mudie)—brought up, read the first and second time, and inserted (now paragraph 67).
Paragraphs 64 and 65 read, amended and agreed to (now paragraphs 68 and 69).
Paragraph 66 read and agreed to (now paragraph 70).
Summary read, amended and agreed to.
Resolved, That the Report be the Sixth Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Several papers were ordered to be appended to the Minutes of Evidence.
Ordered, That the Appendices to the Minutes of Evidence be reported to the House.—(The Chairman).
[Adjourned till Tuesday 20 April at 9.15 am
Tuesday 20 April 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Norman Lamb | | Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
[Adjourned till Tuesday 27 April at 9.15 am.
Tuesday 27 April 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt |
The Committee deliberated.
Resolved, That, notwithstanding the resolution of the Committee of 1 May 2002, specific oral evidence sessions would not be held with Ms Kate Barker and Mr Charles Bean on their re-appointments to the Monetary Policy Committee of the Bank of England.—(The Chairman.)
Resolved, That the Committee do undertake a follow-up inquiry into Credit card charges and marketing.—(The Chairman.)
Restoring confidence in long-term savings: Mr Jeremy Goford, President, Institute of Actuaries, Mr Tom Ross OBE, President, Faculty of Actuaries, Mr David Strachan, Director of Deposit Takers Division, and Mr Paul Sharma, Head of Department, Prudential and Accounting Standards, Financial Services Authority, were examined.
[Adjourned till Thursday 6 May at 9.15 am.
Thursday 6 May 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Restoring confidence in long-term savings: Mr Richard Saunders, Chief Executive, Mr Lindsay Tomlinson, Chairman, and Mr Simon Ellis, Chair, Investment Funds Committee, were examined.
Restoring confidence in long-term savings: Ms Christine Farnish, Chief Executive, National Association of Pension Funds, was examined.
[Adjourned till Tuesday 11 May at 9.15 am.
Tuesday 11 May 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Restoring confidence in long-term savings: Mr Paul Smee, Director General, Mr Roger Saunders, Deputy Chairman, Association of Independent Financial Advisers, and Ms Amanda Davidson, Director, Charcol Holden Meehan, were examined.
Restoring confidence in long-term savings: Mr John Jory, Chief Executive, Building and Civil Engineering Benefit Schemes, was examined.
[Adjourned till Tuesday 18 May at 9.15 am.
Tuesday 18 May 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle | | Mr Michael Fallon Mr David Heathcoat-Amory John Mann |
The Committee deliberated.
Regional productivity: Professor Steve Fothergill, Sheffield Hallam University, Dr Peter Tyler, University of Cambridge, and Mr John Adams, IPPR North, were examined.
[Adjourned till Thursday 20 May at 9.15 am.
Thursday 20 May 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Norman Lamb | | John Mann Mr James Plaskitt |
The Committee deliberated.
Restoring confidence in long-term savings: Mr Nick Lord, Head of Money Advice Strategy, National Association of Citizens' Advice Bureaux, Ms Jill Johnstone, Director of Policy, National Consumer Council, were examined; Mr Mick McAteer, Senior Policy Adviser, Consumers' Association, and Ms Anne Foster, Chairman, Financial Services Consumer Panel, were further examined.
[Adjourned till Tuesday 25 May at 9.15 am.
Tuesday 25 May 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Mr David Heathcoat-Amory Norman Lamb Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Restoring confidence in long-term savings: Mr Sandy Crombie, Standard Life, Mr Richard Harvey, Aviva, Mr David Prosser, Legal & General, and Mr Jonathan Bloomer, Prudential, were further examined.
[Adjourned till Wednesday 26 May at the conclusion of the meeting of the Sub-committee.
Wednesday 26 May
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory Norman Lamb | | John Mann Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Draft Report from the Sub-committee (The administrative costs of tax compliance), brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 47 read and agreed to.
Resolved, That the Report be the Seventh Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the House.—(The Chairman.)
[Adjourned till Tuesday 8 June at 9.15 am
Tuesday 8 June 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Fourth Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the Government's response to the Committee's Sixth Report from the Committee [Budget 2004] be appended to the Report.—(The Chairman.)
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Fifth Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the responses to the Committee's Fifth Report from the Committee [Restoring confidence in long-term savings: Endowment mortgages] be appended to the Report.—(The Chairman.)
Bank of England May 2004 Inflation Report: Mr Roger Bootle, Professor David Miles and Mr David Walton were examined.
Restoring confidence in long-term savings: Mr Walter Merricks, Chief Ombudsman, Financial Ombudsman Service, was further examined.
[Adjourned till Wednesday 23 June at 9.15 am
Wednesday 23 June 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Sixth Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the further response from the Department for Trade and Industry to the First Report from the Committee [Transparency of Credit Card Charges] be appended to the Report.—(The Chairman.)
Resolved, That the Committee do inquire into the Spending Review 2004.—(The Chairman.)
Restoring confidence in long-term savings: Mr Callum McCarthy, Chairman and Mr John Tiner, Chief Executive, Financial Services Authority, were examined.
[Adjourned till Thursday 24 June at 9.15 am.
Thursday 24 June 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Mr Michael Fallon | | Norman Lamb Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Bank of England May 2004 Inflation Report: Mr Mervyn King, Governor of the Bank of England, Ms Rachel Lomax, Deputy Governor Monetary Policy, Mr Paul Tucker, Ms Marian Bell, and Ms Kate Barker, members of the Monetary Policy Committee, were examined.
[Adjourned till Tuesday 28 June at 9.15 am.
Tuesday 28 June 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Mr David Heathcoat-Amory Norman Lamb Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Restoring confidence in long term savings: Ruth Kelly, a Member of the House and Financial Secretary, Mr James Sassoon, Managing Director, Finance, Regulation & Industry, Mr Paul Kirkman, Head, Savings & Investment Products Team, and Ms Caroline Barr, Policy Adviser on Retail & Investment Products, HM Treasury were examined.
[Adjourned till Tuesday 6 July at 9.15 am.
Tuesday 6 July 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard | | Mr George Mudie |
The Committee deliberated.
Resolved, That the Committee do inquire into the EU single market in financial services.—(The Chairman.)
Regional productivity: Mr Martin Briggs, Chief Executive, East Midlands Development Agency, Mr Martin Havenhand, Chief Executive, Yorkshire Forward and Mr Tom Riordan, Director of Strategy, Yorkshire Forward were examined.
[Adjourned till Wednesday 14 July at 2.15 pm.
Wednesday 14 July 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle | | Mr Michael Fallon Norman Lamb Mr Robert Walter |
The Committee deliberated.
Spending Review 2004: Mr Robert Chote, Director, Institute for Fiscal Studies, Professor Colin Talbot, Nottingham Policy Centre, University of Nottingham, Mr David Walton, Chief European Economist, Goldman Sachs, were examined.
Spending Review 2004: Mr Nicholas Macpherson, Managing Director, Public Services, Mr Jonathan Stephens, Director, Public Spending and Mr Chris Martin Head of Spending Review, HM Treasury team were examined.
[Adjourned till Thursday 15 July at 9.15 am.
Thursday 15 July 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Spending Review 2004: Rt Hon Gordon Brown, a Member of the House and Chancellor of the Exchequer, Mr Michael Ellam, Director of Policy and Planning were examined, Mr Nicholas Macpherson, Managing Director, Public Services, Mr Jonathan Stephens, Director, Public Spending and Mr Chris Martin, Head of Spending Review team, HM Treasury were further examined.
[Adjourned till Monday 19 July at 2.30 pm.
Monday 19 July 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr George Mudie Mr James Plaskitt Mr Robert Walter |
Draft Report (Restoring confidence in long-term savings), proposed by the Chairman, brought up and read.
Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 4 read and agreed to.
Paragraph 5 read, amended and agreed to.
Paragraphs 6 and 7 read and agreed to.
Paragraphs 8 and 9 read, amended and agreed to.
Paragraphs 10 and 11 read and agreed to.
Paragraphs 12 and 13 read, amended and agreed to.
Paragraphs 14 to 17 read and agreed to.
Paragraphs 18 and 19 read, amended and agreed to.
Paragraphs 20 and 21 read and agreed to.
Paragraphs 22 and 23 read, amended and agreed to.
Paragraphs 24 to 29 read and agreed to.
Paragraphs 30 and 31 read, amended and agreed to.
Paragraphs 32 to 34 read and agreed to.
Paragraphs 35 and 36 read, amended and agreed to.
Paragraph 37 read and agreed to.
Paragraphs 38 to 40 read, amended and agreed to.
Paragraphs 41 and 42 read and agreed to.
Paragraphs 43 to 45 read, amended and agreed to.
Paragraphs 46 and 47 read and agreed to.
Paragraph 48 read, amended and agreed to.
Paragraph 49 read and agreed to.
Paragraphs 50 to 52 read, amended and agreed to.
Paragraphs 53 and 54 read and agreed to.
Paragraph 55 read, amended and agreed to.
Paragraph 56 read and agreed to.
Paragraphs 57 and 58 read, amended and agreed to.
Paragraph 59 read and agreed to.
Paragraph 60 read, amended and agreed to.
Paragraph 61 read and agreed to.
Paragraph 62 read, amended and agreed to.
Paragraphs 63 to 72 read and agreed to.
Paragraph 73 read, amended and agreed to.
Paragraphs 74 to 76 read and agreed to.
Paragraph 77 read, amended and agreed to.
Paragraphs 78 to 83 read and agreed to.
Paragraph 84 read, amended and agreed to.
Paragraphs 85 to 91 read and agreed to.
Paragraph 92 read as follows:
"The IMA also made a plea for "rational tax incentives" and pointed out that it was perverse that the main beneficiaries of some current tax incentives were higher rate rather than standard rate tax payers. Similarly Mr Bloomer told us "a review of the overall taxation system of savings would be worthwhile, because I am not sure the tax credits that are available always go the most effective way." The Financial Secretary acknowledged that the tax system had played a part in adding to the "asymmetry of information between the consumer and the provider." She also told us in the past "it has been almost impossible for the consumer to compare products because of different tax treatments," although she went on to note that she hoped the new Sandler suite of simplified products would make comparison easier for the saver. In addition, she told us that the UK now had "the most simple tax regime in the world applying to pensions." The Committee welcomes recent moves to simplify some aspects of the tax regime for pensions and long-term savings. It is important, given the sums of money involved from the Exchequer, that the tax reliefs and incentives granted to long-term savings are as effective as possible in achieving their stated objectives. The evidence we have received in the course of this inquiry suggests that by better targeting and simplification there is substantial scope for improving the effectiveness of the current tax regime in promoting savings."
Amendment proposed, in line 11, after the word "pensions.' ", to insert the words "The Government's current tax regime for savers is incoherent, complicated and confusing. Policy decisions since 1997 such as the withdrawal of advanced corporation tax relief on pension fund dividends, the scrapping of PEPs and TESSAs, the regulation of the stakeholder pension, and the failure to index-link the state pension to earnings have themselves undermined confidence in pensions and long-term savings."—(Mr Michael Fallon.)
Question put, that the Amendment be made.
The Committee divided.
| Ayes, 3 Mr Michael Fallon Mr David Heathcoat-Amory Mr Robert Walter | | Noes, 7 Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb John Mann Mr George Mudie Mr James Plaskitt |
Another Amendment proposed, in line 16, to leave out the words "by better targeting and simplification there is substantial scope for improving the effectiveness of the current tax regime" and to insert the words "there is substantial scope for improving the coherence of the present complex tax regime".—(Mr Jim Cousins.)
The Committee divided.
| Ayes, 5 Mr Nigel Beard Mr Jim Cousins Mr Michael Fallon Mr David Heathcoat-Amory Norman Lamb | | Noes, 4 Angela Eagle John Mann Mr George Mudie Mr James Plaskitt |
Paragraph, as amended, agreed to.
Paragraphs 93 to 98 read and agreed to.
Paragraphs 99 to 102 read, amended and agreed to.
Paragraphs 103 to 105 read and agreed to.
Paragraph 106 read, amended and agreed to.
Paragraphs 107 and 108 read and agreed to.
Paragraph 109 read, amended and agreed to.
Paragraph 110 read and agreed to.
Paragraphs 111 and 112 read, amended and agreed to.
Paragraph 113 read and agreed to.
Paragraphs 114 to 117 read, amended and agreed to.
A paragraph—(Mr Nigel Beard)—brought up, read the first and second time, and inserted (now paragraph 118).
Paragraph 118 read, amended and agreed to (now paragraph 119).
Summary read, amended and agreed to.
Resolved, That the Report be the Eighth Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the provisions of Standing Order No. 134 (Select committees (reports)) be applied to the Report.
Several Papers were ordered to be appended to the Minutes of Evidence.
Ordered, That the Appendices to the Minutes of Evidence taken before the Committee be reported to the House.
Several Papers were ordered to be reported to the House.
[Adjourned till Tuesday 14 September at 9.15 am.
Tuesday 14 September 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Norman Lamb | | John Mann Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Seventh Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That responses to the Committee's Seventh Report from the Committee [The administrative costs of tax compliance] be appended to the Report.—(The Chairman.)
Resolved, That the Chairman do write to the Financial Secretary to the Treasury indicating that the Committee is content with the proposals in her letter of 30 June 2004 relating to central government accounting issues, subject to requests in respect of (a) the publication of a table reconciling the information presented in the new and old formats and (b) the publication of a consolidated list of contingent liabilities as comprehensive and accessible as the present list.—(The Chairman.)
Resolved, That the Committee do visit the offices of the Financial Services Authority in Canary Wharf, London.—(The Chairman.)
Regional productivity: Mr Richard Lambert, Review of Business-University Collaboration, Professor Patrick Dowling, Universities UK, and Mr Peter Reid, London Technology Network, were examined.
[Adjourned till Thursday 16 September at 9.15 am.
Thursday 16 September 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr David Heathcoat-Amory | | Norman Lamb Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Ordered, That the Committee do inquire into the Impact of China on the world and UK economy and do visit China in connection with the inquiry.—(The Chairman.)
Resolved, That the Chairman do seek the approval of the Liaison Committee for expenditure in connection with the said visit.—(The Chairman)
EU single market in financial services: Mr Callum McCarthy, Chairman, and Mr John Tiner, Chief Executive, Financial Services Authority, were examined.
[Adjourned till Tuesday 12 October at 9.15 am.
Tuesday 12 October 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr David Heathcoat-Amory John Mann | | Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Draft Special Report, proposed by the Chairman, brought up, read the first and second time, and agreed to.
Resolved, That the Report be the Eighth Special Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That responses to the Committee's Eighth Report from the Committee [Restoring confidence in long-term savings] be appended to the Report.—(The Chairman.)
Ordered, That the Chairman and the Clerk do attend the European Parliament Budget Committee meeting in Brussels on 23 November to discuss the EU Budget 2005 in a representative capacity.—(The Chairman.)
EU single market in financial services: Mr Mick McAteer, and Mr Stephen Crampton, Which?, Ms Ann Foster, and Mr Paul Salvidge, Financial Services Consumer Panel were examined.
EU single market in financial services: Mr Stephen Sklaroff, Association of British Insurers, Ms Angela Knight, Association of Private Client Investment Managers and Stockbrokers, Mr Ian Mullen, British Bankers Association, and Ms Sheila Nicoll, Investment Management Association, were examined.
[Adjourned till Tuesday 19 October at 9.15 am.
Tuesday 19 October 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon Mr David Heathcoat-Amory | | Norman Lamb John Mann Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Resolved, That the Committee do inquire into Cash machine charges.—(The Chairman.)
Credit card charges and marketing: Mr Fergus Brownlee, Vice President Europe, Capital One, Mr James Crosby, Chief Executive, HBOS, and Mr Eric Daniels, Group Chief Executive, Lloyds TSB, were examined.
[Adjourned till Tuesday 26 October at 9.15 am.
Tuesday 26 October 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Norman Lamb John Mann Mr James Plaskitt |
The Committee deliberated.
Mr Fallon declared a financial interest relating to the terms of reference of the Committee, namely a non-executive directorship with Collins Stewart Tullett plc, a financial services and stockbroking firm.
Credit card charges and marketing: Mr John Varley, Chief Executive, Barclays, Sir Fred Goodwin, Group Chief Executive, Royal Bank of Scotland, Mr Shane Flynn, Chief Executive Officer, MBNA, and Mr Michael Geoghegan CBE, Director and Chief Executive, HSBC Bank plc, were examined.
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 3 November 2004
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Michael Fallon | | Norman Lamb John Mann Mr James Plaskitt Mr Robert Walter |
The Committee deliberated.
Draft Report from the Sub-committee (The merger of Customs & Excise and the Inland Revenue), brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 57 read and agreed to.
Resolved, That the Report be the Ninth Report of the Committee to the House.
Ordered, That the Chairman do make the Report to the House.
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the House.—(The Chairman.)
[Adjourned till Tuesday 9 November at 9.15 am.
Tuesday 9 November 2004
Members present:
Mr John McFall, in the Chair
| Mr Michael Fallon Mr David Heathcoat-Amory | | Mr George Mudie |
The Committee deliberated.
Regional productivity: Mr John Mackie, Chief Executive, British Venture Capital Association, Mr Neil Kemsley, Chairman, and Mr Mark Fuller, Managing Director, Alliance Fund Managers, Merseyside Special Investment Fund, Mr Peter Claydon, Group Commercial Director and Mr Peter Garnham, Managing Director, Yorkshire Fund Managers Venture Finance, were examined.
[Adjourned till Tuesday 16 November at 9.15 am.
Tuesday 16 November
Members present:
Mr John McFall, in the Chair
| Mr Nigel Beard Norman Lamb | | Mr George Mudie Mr James Plaskitt |
The Committee deliberated.
Resolved, That the Committee do inquire into the 2004 Pre-Budget Report.—(The Chairman.)
Resolved, That the Chairman do write to the Financial Secretary to the Treasury indicating that the Committee is content with the proposals in his letter of 15 October, pursuant to the Committee's resolution of 14 September, subject to requests in respect of the information to be provided on contingent liabilities in relation to (a) the proposed threshold for the specific listing of quantifiable liabilities and (b) the information to be provided on unquantifiable liabilities.—(The Chairman.)
Regional productivity: Mr John Cheffins, Chief Operating Office, Rolls-Royce, Dr John Patterson, Executive Vice President, AstraZeneca, Mr Alistair Baker, Managing Director, and Ms Natalie Ayres, Group Director, Small and Medium Enterprises, and Partners, Microsoft UK, were examined.
[Adjourned till Thursday 25 November at 9.15 am.
Proceedings of the Sub-Committee
Wednesday 3 December 2003
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle | | Norman Lamb Mr John McFall Mr David Ruffley |
The Sub-committee deliberated.
Child Trust Funds: Ruth Kelly a Member of the House, Financial Secretary, Mr Nicholas Holgate, Director Welfare Reform, and Mr Mostaque Ahmed, Policy Adviser, Savings and Pension Team, HM Treasury, and Ms Liz Welsh, Deputy Director, Savings Policy, Inland Revenue, were examined.
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 10 December 2003
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb | | Mr John McFall Mr George Mudie Mr James Plaskitt Mr David Ruffley |
The Sub-committee deliberated.
Draft Report (Child Trust Funds) proposed by the Chairman, brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 63 read and agreed to.
Resolved, That the Report be the First Report of the Sub-committee to the Committee.
Ordered, That the Chairman do make the Report to the Committee.
Several papers were ordered to be appended to the Minutes of Evidence.
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the Committee.—(The Chairman.)
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 14 January 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Norman Lamb Mr John McFall | | Mr David Ruffley Mr Robert Walter |
The Sub-committee deliberated.
Office of Government Commerce: Sir Peter Gershon, Chief Executive, Mr John Oughton, Deputy Chief Executive, Mr Bryan Avery, Executive Director—Corporate Services, and Mr Martin Sykes, Executive Director—Supplier and Government Marketplace Development, Office of Government Commerce, were examined.
[Adjourned till Wednesday 21 January at 2.15 pm.
Wednesday 21 January 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Norman Lamb John Mann | | Mr John McFall Mr James Plaskitt Mr David Ruffley |
The Sub-committee deliberated.
Resolved, That the Sub-committee do visit the Netherlands in connection with its inquiry into the administrative costs of tax compliance.—(The Chairman.)
The administrative costs of tax compliance: Mr Chris Tailby, Director of Tax Practice, and Mr Roger Halson, Small Business Champion, HM Customs and Excise, and Mr Robin Martin, Director, Better Regulation, and Ms Sara Woollard, Head of Regulatory Impact Unit, Inland Revenue, were examined.
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 4 February 2004
Members present:
Mr Michael Fallon, in the Chair
| Norman Lamb Mr John McFall | | Mr Robert Walter |
The Sub-committee deliberated.
The administrative costs of tax compliance: Mr Neil Hamper, Chairman of the Taxation & Financial Affairs Committee, Federation of Small Businesses, Mr Derek Brownlee, Taxation Executive, Institute of Directors, Ms Kate Upcraft, Policy & Research Manager, and Mr Norman Green, Fellow, Institute of Payroll and Pensions Management, were examined.
[Adjourned till Wednesday 25 February at 2.15 pm.
Wednesday 25 February 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Angela Eagle Norman Lamb Mr John McFall | | Mr James Plaskitt Mr David Ruffley Mr Robert Walter |
The Sub-committee deliberated.
The administrative costs of tax compliance: Mr Robert Maas, Tax Partner at Blackstone Franks and member of the Institute of Chartered Accountants in England and Wales Tax Technical Committee, Ms Anita Monteith, Consultant to the Institute of Chartered Accountants in England and Wales Tax Faculty, Mr John Whiting, Chairman, Chartered Institute of Taxation, and Tax Partner, PricewaterhouseCoopers, and Mr Nigel Eastaway, Chairman, Technical Committee, Chartered Institute of Taxation, were examined.
[Adjourned till Tuesday 9 March at 9.15 am.
Tuesday 9 March 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Norman Lamb | | John McFall John Mann |
The Sub-committee deliberated.
Resolved, That the Sub-committee do visit Denmark in connection with its inquiry into the administrative costs of tax compliance.—(The Chairman.)
The administrative costs of tax compliance: Mr Philip Gillett, Group Taxation Controller ICI, Chairman CBI Taxation Committee, Mr John Hampton, Senior Personal Tax Manager BT, Chairman CBI Personal Taxes Sub Committee, and Mr Mervyn Woods, Head of Tax Policy, CBI, were examined
[Adjourned till Wednesday 21 April at 2.15 pm.
Wednesday 21 April 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb | | Mr John McFall Mr James Plaskitt Mr Robert Walter |
The Sub-committee deliberated.
The administrative costs of tax compliance: Rt Hon Dawn Primarolo a Member of the House, the Paymaster General, Mr John Healey a Member of the House, the Economic Secretary, Mr Robin Martin, Director, Better Regulation, Inland Revenue, and Ms Jen Little, VAT Compliance Adviser, HM Customs and Excise, were examined.
[Adjourned till Wednesday 28 April at 2.15 pm.
Wednesday 28 April 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr Heathcoat-Amory | | Norman Lamb Mr John McFall Mr James Plaskitt |
The Sub-committee deliberated.
Resolved, That the proposed visit to Denmark by the Sub-committee in connection with its inquiry into the Administrative Costs of Tax Compliance be cancelled.—(The Chairman.)
The merger of Customs & Excise and the Inland Revenue: Mr Gus O'Donnell CB, Permanent Secretary and Mr Dave Ramsden, Director Tax Policy, HM Treasury; Ms Helen Ghosh, Director General, Corporate Services, Inland Revenue, and Mr Michael Hanson, Director General, Business Services and Taxes, HM Customs and Excise, were examined.
[Adjourned till Wednesday 5 May at 2.15 pm.
Wednesday 5 May 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Norman Lamb | | Mr John McFall Mr Robert Walter |
The Sub-committee deliberated.
Appointment hearing: the Chief Executive of the Office of Government Commerce: Mr John Oughton, Chief Executive, Office of Government Commerce, was examined.
[Adjourned till Wednesday 12 May at 2.15 pm.
Wednesday 12 May 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr David Heathcoat-Amory Norman Lamb | | Mr John McFall Mr Robert Walter |
The Sub-committee deliberated.
The merger of Customs & Excise and the Inland Revenue: Mr Chas Roy-Chowdhury, Head of Taxation, ACCA, Mr Mark Lee, Chairman, Tax Faculty, ICAEW, Mr Mike Hardwick, Chairman, Tax Law Committee, the Law Society, and Mr John Whiting, Tax Partner, PricewaterhouseCoopers, Chairman Tax Policy Sub-committee, the Chartered Institute of Taxation, were examined.
[Adjourned till Wednesday 26 May at 2.15 pm.
Wednesday 26 May 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Angela Eagle Mr David Heathcoat-Amory Norman Lamb Mr John McFall | | John Mann Mr George Mudie Mr James Plaskitt Mr Robert Walter |
The Sub-committee deliberated.
Draft Report (The administrative costs of tax compliance), proposed by the Chairman, brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 47 read and agreed to.
Resolved, That the Report be the Second Report of the Sub-committee to the Committee.
Ordered, That the Chairman do make the Report to the Committee.
Several papers were ordered to be appended to the Minutes of Evidence
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the Committee.—(The Chairman.)
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 30 June 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins | | Angela Eagle Mr George Mudie |
The Sub-committee deliberated.
Resolved, That the Sub-committee do take evidence from the Statistics Commission on its Annual Report.—(The Chairman.)
Resolved, That the Sub-committee do take evidence from Mr David Varney on his appointment as Executive Chairman designate of HM Revenue and Customs.—(The Chairman.)
Resolved, That the Sub-committee do take evidence from the Office for National Statistics on its Annual Report.—(The Chairman.)
Inland Revenue Spring Departmental Report 2004: Ms Ann Chant, Acting Chairman, Mr Steve Heminsley, Director General, Service Delivery Support, and Mr Nick Lodge, Director, Tax Credit Programme, Inland Revenue were examined.
Inland Revenue Spring Departmental Report 2004: Rt Hon Dawn Primarolo a Member of the House, the Paymaster General, HM Treasury, Mr Dave Hartnett, Deputy Chairman, and Mr Tony Orhnial, Director, Personal Tax, Inland Revenue, were examined.
[Adjourned till a day and time to be fixed by the Chairman.
Wednesday 21 July 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Mr David Heathcoat-Amory | | Mr John McFall Mr James Plaskitt Mr Robert Walter |
The Sub-committee deliberated.
HM Customs and Excise Spring Departmental Report 2004: Mr Mike Eland, Acting Chairman, Ms Alison French, Director, Logistics and Finance, and Mr Mike Wells, Director, Strategy, HM Customs and Excise, were examined.
HM Customs and Excise Spring Departmental Report 2004: Mr John Healey a Member of the House, Economic Secretary, HM Treasury, was examined.
[Adjourned till Wednesday 8 September at 2.15 pm
Wednesday 8 September 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Norman Lamb | | Mr John McFall Mr George Mudie |
The Sub-committee deliberated.
The Statistics Commission's Annual Report 2003–2004: Professor David Rhind, Chairman, Dame Patricia Hodgson, DBE, Commissioner, and Mr Richard Alldritt, Chief Executive, Statistics Commission, were examined.
[Adjourned till Wednesday 13 October at 2.15 pm
Wednesday 13 October 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb | | Mr John McFall John Mann Mr George Mudie Mr James Plaskitt |
The Sub-committee deliberated.
Resolved, that the Sub-committee do undertake an inquiry into excise duty fraud.—(The Chairman.)
Resolved, that the Sub-committee do seek a memorandum from HM Treasury on the formulae used by Government departments for allocating resources.—(Mr Nigel Beard.)
Resolved, that the Sub-committee do seek a memorandum from the Paymaster General on the STEPS contract with Mapeley.—(The Chairman.)
The merger of Customs and Excise and the Inland Revenue: Mr David Varney, Chairman, Mr Paul Gray, Deputy Chairman, and Ms Ann Chant, Director General, Change Management Centre, HM Customs and Excise and the Inland Revenue, were examined.
[Adjourned till Wednesday 27 October at 2.15 pm
Wednesday 27 October 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr John McFall Mr George Mudie | | Mr James Plaskitt Mr Robert Walker |
The Sub-committee deliberated.
The Office for National Statistics Annual Report and Accounts 2003–04: Mr Len Cook, National Statistician, Mr Colin Mowl, Director, Macroeconomics and Labour Market Directorate, Mr Peter Murphy, Finance Director, and Ms Jil Matheson, Director of Social Reporting and Analysis Group, Office for National Statistics, were examined.
[Adjourned till Wednesday 3 November at 2.15 pm
Wednesday 3 November 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Mr Jim Cousins Angela Eagle Norman Lamb | | Mr John McFall John Mann Mr James Plaskitt Mr Robert Walter |
The Sub-committee deliberated.
Resolved, That the Sub-committee do seek a memorandum from HM Treasury on corporate tax cases in the European Court of Justice.—(The Chairman.)
Draft Report (The merger of Customs & Excise and the Inland Revenue), proposed by the Chairman, brought up and read.
Ordered, That the draft Report be read a second time, paragraph by paragraph.
Paragraphs 1 to 57 read and agreed to.
Resolved, That the Report be the Third Report of the Sub-committee to the Committee.
Ordered, That the Chairman do make the Report to the Committee.
Several papers were ordered to be appended to the Minutes of Evidence
Ordered, That the Appendices to the Minutes of Evidence taken before the Sub-committee be reported to the Committee.—(The Chairman.)
[Adjourned till Wednesday 17 November at 2.15 pm
Wednesday 17 November 2004
Members present:
Mr Michael Fallon, in the Chair
| Mr Nigel Beard Angela Eagle | | Mr John McFall Norman Lamb |
The Sub-committee deliberated.
Resolved, That the Sub-committee do visit Hungary and the Czech Republic in connection with its inquiry into excise duty fraud.—(The Chairman.)
Excise duty fraud: Mr Mike Wells, Acting Director Strategy Unit, Mr Paul Gerrard, Acting Head of Tax Strategies, Strategy Unit, and Mr David Hubbard, Head of Excise Group, HM Customs & Excise, were examined.
[Adjourned till a day and time to be fixed by the Chairman.
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