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9 Feb 2009 : Column 1620W—continued
Banks: Regulation
Chris Huhne: To ask the Chancellor of the Exchequer what statutory powers there are to disbar an individual from practising as a banker; and in what circumstances they may be used. [252758]
Ian Pearson: Anyone carrying on regulated activities (such as accepting deposits) must be authorised under the Financial Services and Markets Act 2000.
Under section 56 of the Financial Services and Markets Act 2000 (FSMA), the FSA can make an order prohibiting an authorised person from performing a specified or any regulated activity if it appears that the authorised person is not a fit and proper person to perform the functions of that regulated activity. The FSA also have power, under section 45 of FSMA, to cancel an authorised person's permission to carry out a regulated activity (and subsequently to withdraw their authorised status under section 33) if the grounds in section 45(1) of FSMA are satisfied.
Section 59 of FSMA sets out the requirement that a person carrying out a “controlled function” on behalf of an authorised person must be approved by the FSA. Under Section 63 of FSMA, the FSA may withdraw a person's approved status if it considers that the person is not fit and proper to perform the “controlled function”.
Bradford and Bingley: Mortgages
Mr. Redwood: To ask the Chancellor of the Exchequer what the estimated average date of redemption is of mortgages held as a result of the Bradford and Bingley acquisition. [254584]
Ian Pearson: The publicly-owned part of Bradford and Bingley is managed at arm's length from Government on commercial principles. It is a matter for the company's management to release specific business updates or provide any required disclosures in its annual report and accounts.
Child Tax Credit
Dr. Kumar: To ask the Chancellor of the Exchequer (1) how many people have received child tax credits in (a) the UK, (b) the North East, (c) the Tees Valley and (d) Middlesbrough South and East Cleveland constituency in each year since they were introduced; [254912]
(2) how much was paid out in child tax credits in (a) the UK, (b) the North East, (c) the Tees Valley and (d) Middlesbrough South and East Cleveland constituency in each year since they were introduced. [254913]
Mr. Timms: Estimates of the average number of families benefiting from tax credits including information on average annual entitlements in each Government office region, local authority and parliamentary constituency, based on final family circumstances and incomes, are available in the HMRC publication “Child and Working Tax Credits Statistics Finalised annual awards. Geographical analyses”, for each relevant year. These publications are available on the HMRC website at:
Child Trust Fund
Mr. Kemp: To ask the Chancellor of the Exchequer what average payment has been made by parents into existing child trust fund accounts in (a) Houghton and Washington East constituency, (b) Sunderland, (c) the North East and (d) England in each year since the scheme's inception. [254009]
Ian Pearson: HMRC's Detailed Distributional Analysis, including details of average contributions made by parents and others in all years for which figures are available, was published on 6 November 2008. Geographically this data is only available at Government office region level and can be viewed on the HM Revenue and Customs’ website at:
The average contribution into a Child Trust Fund account registered in England was £261 in 2006-07 and £283 in 2007-08.
Delivery Unit
Simon Hughes: To ask the Chancellor of the Exchequer what recommendations were made to the Prime Minister by the Prime Minister's Delivery Unit between 1 July and 31 December 2008. [255392]
Yvette Cooper: In line with normal practices regarding PMDU advice to Ministers, the unit's recommendations to the Chancellor are never put in the public domain.
Departmental Contracts
Mr. Maude: To ask the Chancellor of the Exchequer with reference to the Written Ministerial Statement of 25 November 2008, Official Report, columns 47-48WS, on departmental expenditure limit (2008-09), what consultancy work required a transfer of £250,000 to the Prime Minister’s Delivery Unit; and what consultancy firm or firms carried out this work. [250566]
Yvette Cooper: When PMDU transferred from the Cabinet Office to HMT in 2007, the remit of the unit changed significantly to include development of PSA policy and oversight of the delivery of the 30 key government PSAs. The unit’s budget and staff levels were increased to reflect these two additional responsibilities. The Cabinet Office agreed to make a £250,000 contribution to cover part of the additional staff costs. When the money was transferred to HMT it was recorded as being for consultancy when it should have been recorded as an increase in the staff budget.
Departmental Correspondence
Sandra Gidley: To ask the Chancellor of the Exchequer how many letters awaiting a reply from his Department have been waiting for more than his Department's target response period. [253198]
Angela Eagle: The Cabinet Office annually publishes a report to Parliament on the performance of departments in replying to Members’ correspondence, which is available in the Library of the House.
Departmental Public Appointments
Mr. Maude: To ask the Chancellor of the Exchequer which of the public appointments for which his Department is responsible are due to be (a) renewed and (b) filled in the next 24 months; what the (i) remit, (ii) salary, (iii) political restriction, (iv) eligibility requirement and (v) timetable for each appointment is; and what records his Department keeps in respect of such appointments. [254231]
Angela Eagle: Information on appointments made by the Treasury is published in the annual departmental report, which can be accessed via the Treasury website:
More detailed information about individual appointments is set out in the relevant body's Annual Report. Vacancies may be advertised on the Cabinet Office Public Appointments website at
The process for making a public appointment, including guidance on political activity and eligibility criteria, follows the Cabinet Office publication “Making and Managing Public Appointments”. For appointments regulated by the Commissioner for Public Appointments, the appointments process also complies with the “Code of Practice for Ministerial Appointments to Public Bodies”. Copies are in the Libraries of the House.
Departmental Recycling
Miss McIntosh: To ask the Chancellor of the Exchequer how much (a) paper, (b) plastic and (c) other waste was produced by his Department in each of the last three years; and what proportion of such waste was recycled. [252869]
Angela Eagle: HM Treasury is committed to recycling and reducing all forms of waste. Full information about waste and recycling, including volume by building, can be found in the HM Treasury Annual Report 2007-08, a copy of which can be found in the Library.
Departmental Training
Mr. Hoban: To ask the Chancellor of the Exchequer how much his Department spent on digital media training courses provided by the Internet Advertising Bureau in 2008; how many such training sessions were held in 2008; and how many staff in his Department attended at least one such training course. [252264]
Angela Eagle: The Treasury’s accounting system does not hold any record of spending with the Internet Advertising Bureau in 2007-08 or so far in the 2008-09 financial year.
Economic and Monetary Union
Mr. Pickles: To ask the Chancellor of the Exchequer when the Local Government Euro Preparations Working Group last met. [252468]
Ian Pearson: A meeting between local authorities and central Government officials to discuss euro preparations took place in September 2006.
Excise Duties: Alcoholic Drinks
Mr. Amess: To ask the Chancellor of the Exchequer if he will review of the effect of his Department's alcohol excise policy on social clubs; and if he will make a statement. [255097]
Angela Eagle: As with all tax policy decisions, we will be monitoring the impact of alcohol duty increases on a range of factors, including retail outlets.
Excise Duties: Beer
Mr. Amess: To ask the Chancellor of the Exchequer if he will freeze beer duty; and if he will make a statement. [255095]
Angela Eagle: Decisions on alcohol duty rates will be made by the Chancellor as part of the Budget process.
Gold and Foreign Exchange Reserves
Chris Huhne: To ask the Chancellor of the Exchequer how foreign currency swaps undertaken by the Bank of England are reported in official figures, with particular reference to reporting on foreign exchange reserves. [252756]
Ian Pearson: Foreign currency swaps undertaken by the Bank of England with the Federal Reserve Bank of New York are reported in the Bank Return (within ‘other liabilities’) and in Bank Stats (Table D5.2, Bank of England foreign currency liabilities, within ‘other liabilities’) published on the Bank's website. Such swaps do not form part of foreign exchange reserves.
Chris Huhne: To ask the Chancellor of the Exchequer whether the UK authorities activated their swap arrangements with (a) the US Federal Reserve and (b) the European Central Bank on Friday 10 October 2008. [252757]
Ian Pearson: On 10 October 2008 the Bank of England entered into an $8.484 billion overnight swap and a $29.998 billion one week swap with the Federal Reserve Bank of New York. Details can be found in the Bank of England market notice ‘Result of US Dollar Repo Operations’ of 10 October 2008.
Chris Huhne: To ask the Chancellor of the Exchequer what (a) contractual and (b) informal swap arrangements there are between the Bank of England and (i) the European Central Bank and (ii) the US Federal Reserve; what estimate he has made of the proportion of the UK financial system's short-term liabilities which could be covered by such arrangements; and if he will make a statement. [252759]
Ian Pearson: The Bank of England has a contractual swap arrangement with the Federal Reserve Bank of New York. The existing swap line is such that there is no fixed limit to the amount of dollar liquidity that can be supplied to the system.
Details can be found in the Bank of England news releases ‘Coordinated Central Bank Action to Improve US$ Liquidity’ of 18 September, ‘Coordinated Central Bank Action to Address Pressures in Global Money Markets’ of 7 October, ‘US Dollar Repo Operations’ of 19 December, and market notice ‘US Dollar Repo Operations’ of 17 October 2008.
Private swap arrangements with other central banks may be put in place in appropriate circumstances, but the details may be kept confidential between the parties concerned.
Inheritance Tax
Mr. Gauke: To ask the Chancellor of the Exchequer what estimate he has made of the full-year cost to the Exchequer for (a) 2009-10, (b) 2010-11 and (c) 2011-12 of raising the inheritance tax threshold to £1 million. [251188]
Mr. Timms: The cost of increasing the inheritance tax threshold to £1 million with effect from April 2009 is estimated at £500 million in 2009-10, £1.2 billion in 2010-11 and £1.3 billion in 2011-12.
Insolvency
Mr. Amess: To ask the Chancellor of the Exchequer if he will estimate the loss to the economy caused by the insolvency of (a) large and (b) medium-sized businesses during the 2008-09 financial year; which businesses declared themselves insolvent during this period; and if he will make a statement. [247993]
Mr. Timms:
The Government publish two economic forecasts per year, which are based on all relevant forecast factors and evidence. Although consistent with
other forecasters, the economic forecast does not include a forecast of insolvencies by large or medium-size businesses. The Government last published a forecast in the pre-Budget report 2008 (Cm 7484) on 24 November and will publish an updated forecast at Budget 2009.
The Insolvency Service does not maintain a named list of insolvent companies. Companies House holds records of all registered companies on their registers, including those in insolvency and dissolution. However, these could not identify those which are "large" and "medium-sized" businesses, nor would a full record of all insolvent companies be available for the financial year 2008-09 until some time after the end of the year.
Members: Correspondence
Sir Michael Spicer: To ask the Chancellor of the Exchequer when he plans to reply to the letter from the hon. Member for West Worcestershire dated 11 November 2008 on pay for PCS members. [255350]
Yvette Cooper: I replied to the hon. Member on 19 December. A further copy has been sent to his office.
Sir Michael Spicer: To ask the Chancellor of the Exchequer (1) when he plans to reply to the letter from the hon. Member for West Worcestershire dated 14 October 2008 on small business costs, PO Ref: 1/61608/2008; [255351]
(2) when he plans to reply to the letter from the hon. Member for West Worcestershire dated 6 November 2008 on charities, PO Ref: 1/62894/2008. [255353]
Ian Pearson: Due to the large volume of correspondence received on these issues there has been a delay in sending some responses. The Financial Services Secretary hopes to be in a position to reply to the hon. Member shortly.
Mortgages: Arrears
Miss McIntosh: To ask the Chancellor of the Exchequer what estimate he has made of the number of mortgage accounts that were in arrears on (a) 1 April 2008, (b) 1 June 2008 and (c) 1 December 2008. [254204]
Ian Pearson: The Government do not hold these figures. The Financial Services Authority (FSA) publishes quarterly data on residential mortgage lending, covering the period from the first quarter of 2007, available at:
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