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2 Dec 2009 : Column 810W—continued
Financial Institutions: Pay
Mr. Austin Mitchell: To ask the Chancellor of the Exchequer if he will introduce legislative proposals to limit the remuneration of hedge fund directors. [300727]
Sarah McCarthy-Fry: The Government have no plans to introduce legislative proposals to limit the remuneration of hedge fund directors.
However, the Government have taken steps to ensure that remuneration paid at systemically significant financial institutions is commensurate with a prudent approach to risk and leads to long-term value creation. The Financial Services Authority code, which comes into force on 1 January 2010, includes requirements for deferral and clawback from significant banking and other institutions. In addition, the Government are taking legislative measures in the Financial Services Bill that will bestow a duty on the FSA to ensure remuneration is consistent with effective risk management and will enable improved disclosure of remuneration, which in turn will facilitate better shareholder oversight of risk.
The FSA will review its Rule and Code during 2010.
Financial Services
Jim Cousins: To ask the Chancellor of the Exchequer what estimate has been made of the amount of tax allowable losses of banks and financial services companies which will be carried forward from the 2008-09 financial year; and for how many years those losses will be allowable against tax. [302550]
Sarah McCarthy-Fry: I refer my hon. Friend to the answer I gave him on 27 October 2009, Official Report, column 275W.
Mr. Fallon: To ask the Chancellor of the Exchequer what the latest estimate is of the UK market share of the top five companies in (a) retail banking, (b) corporate banking, (c) mortgages, (d) insurance and re-insurance, (e) government bonds, (f) currencies and (g) credit swaps and derivatives. [303346]
Sarah McCarthy-Fry [holding answer 1 December 2009]: The information requested could be provided only at disproportionate cost.
Immobilisation of Vehicles
Norman Baker: To ask the Chancellor of the Exchequer how much his Department has paid in vehicle clamping charges incurred on (a) privately-owned and (b) publicly-owned land in each of the last 10 years; and if he will make a statement. [302750]
Sarah McCarthy-Fry: The Treasury does not keep a central record of such charges and provision of the information could not be provided within the disproportionate costs threshold.
Northern Rock
Jim Cousins: To ask the Chancellor of the Exchequer how much he has repaid Northern Rock following an overcharge from the Treasury to Northern Rock; and how that overcharge came to be made. [302551]
Sarah McCarthy-Fry: The Treasury's resource accounts for 2008-09 (HC 611) reported that the terms of the Government's loan to Northern Rock will change retrospectively to 1 April 2008 following state aid approval, which was received last month.
The financial implications for Northern Rock as a result of the change will be set out in the company's 2009 annual report and accounts.
Northern Rock: Compensation
Dr. Cable: To ask the Chancellor of the Exchequer when he expects the independent valuer to report on what compensation is payable as a result of the transfer of shares in Northern Rock plc to his Department. [302959]
Sarah McCarthy-Fry: I refer the hon. Gentleman to the answer I gave the hon. Member for Brecon and Radnorshire (Mr. Williams) on 26 October 2009, Official Report, column 73W.
Public Expenditure: Scotland
Mr. Ingram: To ask the Chancellor of the Exchequer what funding has been provided to the Scottish Executive as Barnett consequentials in relation to the promotion and use of renewable energy sources in each of the last five years. [302645]
Mr. Byrne [holding answer 30 November 2009]: The Barnett formula has been applied to changes in provision of UK Government Departments in spending reviews over the last five years. The Barnett formula is applied to the aggregate changes in provision of Departments. Details are provided in spending review White Papers. Under the Barnett formula arrangements the Scottish Executive receives an unhypothecated block budget which it then allocates reflecting its own priorities. Details of spending by UK Government Departments can be found in their departmental reports. So while the Scottish Executive has received Barnett consequentials on spending on renewable energy sources these are not separately calculated or identified in its spending review settlements.
Public Expenditure: Wales
Mrs. Gillan: To ask the Chancellor of the Exchequer on what date he agreed to the introduction of a spending base in respect of Barnett formula funding for Wales; and if he will place in the Library a copy of his correspondence with the Secretary of State for Wales on that matter. [303402]
Mr. Byrne: The operation of the Barnett formula is set out in the Statement of Funding Policy published by the Treasury in October 2007. In addition the Secretary of State for Wales announced to Parliament on 26 November 2009 arrangements for assessing spending trends in the next spending review.
Sony Ericsson: Government Assistance
Mr. Jim Cunningham: To ask the Chancellor of the Exchequer what tax credit assistance the Government has provided to Sony Ericsson in the last 12 months. [302395]
Ian Pearson: We are unable to provide information relating to individual taxpayers' affairs.
Taxation
Jim Cousins: To ask the Chancellor of the Exchequer what estimate he has made of the revenue which will be raised by the changes to tax reliefs announced in the written ministerial statement of 21 October 2009, Official Report, column 57WS, on anti-avoidance. [302575]
Mr. Timms: The written ministerial statement of 21 October 2009, Official Report, column 57WS, announced changes to legislation to counter four tax avoidance schemes with immediate effect. The Government estimate that closing these schemes down will yield £300 million by 2012-13, while also protecting over £1 billion of revenue.
Taxation: Aviation
Norman Baker: To ask the Chancellor of the Exchequer how many aeroplanes in the UK are exempt from air passenger duty; and how many of them are privately-owned. [302773]
Sarah McCarthy-Fry: Air passenger duty (APD) is calculated on the number of passengers on board a flight on its take off from a UK airport. No tax is due on flights without passengers.
Exemptions apply for certain categories of passengers, including cabin crew and children under two who are not allocated their own seat. Flights that depart from an airport in the Scottish Highlands and Islands are also exempt.
Aircraft certified as having an authorised take off weight of less than 10 tonnes, or that are equipped to carry fewer than 20 passengers, are outside the scope of the tax, and consequently not liable to air passenger duty. We cannot say how many aircraft are outside the scope of APD; however, the Civil Aviation Authority publishes details of UK registered aircraft at:
http://www.caa.co.uk/default.aspx?catid=56&;pagetype=90&pageid=107
We do not have information on how many aircraft are privately-owned.
Business, Innovation and Skills
Bankruptcy
Dr. Cable: To ask the Minister of State, Department for Business, Innovation and Skills how many individual bankruptcy petitions in which council tax arrears were mentioned as a significant reason were received by the Official Receiver in each of the last five years; and if he will make a statement. [302123]
Ian Lucas: According to our database, the number of individual bankruptcy orders which are recorded as being made upon the petition of a local authority for each of the last five years ending 31 March were:
| Number | |
In the majority of bankruptcy cases where a creditor presents a petition, often referred to as a creditor's petition bankruptcy, the petitioner is a single creditor. This creditor may not be the majority creditor. A local authority may also be a creditor in a creditor's petition bankruptcy case where it is not the petitioning creditor.
The number of cases cited above does not include cases where an individual presented their own bankruptcy petition, often referred to as a debtor's petition bankruptcy, where the local authority may have been one of their creditors. Such information is not readily available, but in any event it is unlikely in such cases that a debt to a local authority will have been a significant factor as compared with debts owed to other creditors.
I will not be making a statement on this.
Foreign Workers
Mr. Hayes: To ask the Minister of State, Department for Business, Innovation and Skills what his most recent estimate is of the proportion of the workforce who are non-UK nationals in each region. [302567]
Ms Butler: I have been asked to reply.
The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.
Letter from Jil Matheson, dated December 2009:
As National Statistician, I have been asked to reply to your Parliamentary Question asking what the most recent estimate is of the proportion of the workforce who are non-UK nationals in each region. (302567)
The information requested is shown in the attached table. The estimates are derived from the Labour Force Survey (LFS). As with any sample survey, estimates from the LPS are subject to a margin of uncertainty.
The figures in the table are derived from the LFS microdata which are weighted using the official population estimates published in autumn 2007. They are not entirely consistent with the figures published in the monthly Labour Market Statistical Bulletin, which is weighted using more up-to-date population estimates.
Mr. Hayes: To ask the Minister of State, Department for Business, Innovation and Skills what his most recent estimate is of the proportion of the workforce engaged in unskilled labour who are non-UK nationals. [302568]
Ms Butler: I have been asked to reply.
The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.
Letter from Jil Matheson, dated December 2009:
As National Statistician, I have been asked to reply to your Parliamentary Question asking what the most recent estimate is of the proportion of the workforce engaged in unskilled labour who are non-UK nationals. (302568)
In terms of the Standard Occupational Classification (SOC) "unskilled labour" relates to those people classified to the "Elementary Occupations" group.
The most recent estimates are for the three-month period July-September 2009 and show that 13 percent of those people aged 16 and over employed in Elementary Occupations were non-UK nationals. The estimate is derived from the Labour Force Survey (LFS). As with any sample survey, estimates from the LFS are subject to a margin of uncertainty.
The Figure is derived from the EFS microdata which are weighted using the official population estimates published in autumn 2007. They are not entirely consistent with the figures published in the monthly Labour Market Statistical Bulletin, which is weighted using more up-to-date population estimates.
Insolvency: Complaints
Mr. Weir: To ask the Minister of State, Department for Business, Innovation and Skills how many complaints have been received by (a) the Insolvency Service and (b) the Accountant in Bankruptcy in respect of insolvency practitioners and administrators in each of the last 10 years. [300680]
Ian Lucas: The Insolvency Service does not hold the information requested.
The vast majority of insolvency practitioners are regulated by one of seven recognised professional bodies. Any complaint about the conduct of an insolvency practitioner is directed towards and dealt with by the appropriate recognised professional body.
The Insolvency Service published its first Annual Review of Insolvency Practitioner Regulation in June 2009. Information regarding the number of complaints received by the recognised professional bodies is contained within that report, and indicates that during 2008 a
total of 828 complaints were received. Of those complaints, 197 related to insolvency practitioners acting as administrators.
The Insolvency Service intends to publish such a report on an annual basis in the future.
The Accountant in Bankruptcy is directly accountable to Ministers of the Scottish Parliament and does not therefore fall within the remit of this Department.
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