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UK Current Account and Reserve Asset Levels 1990-2000

Lord Shore of Stepney asked Her Majesty's Government:

23 Jan 2001 : Column WA11

Lord McIntosh of Haringey: The information requested falls within the responsibility of the National Statistician, who has been asked to reply. Letter to Lord Shore of Stepney from the National Statistician and Registrar General for England and Wales, Office for National Statistics, Mr Len Cook, dated 23 January 2001.

As National Statistician, I have been asked to reply to your recent question on the United Kingdom's current account balance and the total value of currency reserve assets for each year since 1990, including an estimate for 2000 (HL330).

The latest estimates for the UK current account balances are shown in the following table:

Year Jan-Dec£ million
1990-19,513
1991-8,374
1992-10,082
1993-10,618
1994-1,458
1995-3,745
1996-600
19976,623
1998-80
19999,882

Sources:

Table 1.2 UK Balance of Payments Pink Book 2000.

Table A UK Balance of Payments First Release.

The latest estimates for the UK reserve assets levels are shown in the following table:

Year at Dec 31£ billion
199022.5
199126.0
199228.3
199329.7
199430.7
199531.8
199627.3
199722.8
199823.1
199924.5

Sources:

Table 8.9 UK Balance of Payments Pink Book 2000.

Table K UK Balance of Payments First Release.

Estimates for the year 2000 are not available until 26 March 2001, when the UK Balance of Payments First Release for the fourth quarter of 2000 will be published.


23 Jan 2001 : Column WA12

EMU: Conditions for Stage 3 Participation

Lord Shore of Stepney asked Her Majesty's Government:

    Further to the Written Answer by Lord McIntosh of Haringey on 15 January (WA 105-106), whether the provisions of Article 121 of the European Communities Treaties are the "necessary conditions" for judging whether existing member states as well as candidate countries should participate in Stage 3 of Economic and Monetary Union.[HL380]

Lord McIntosh of Haringey: I refer the noble Lord to Article 121 of the Treaty establishing the European Community.

Sterling-Deutschmark Exchange Rate 1996-2001

Lord Shore of Stepney asked Her Majesty's Government:

    What was the exchange rate between the pound sterling and the deutschmark on 1 January in each year since 1996.[HL383]

Lord McIntosh of Haringey: The sterling-deutschmark exchange rate (expressed as the number of deutschmark per pound sterling) was as follows:


    1 January 1996: 2.233


    1 January 1997: 2.638


    1 January 1998: 2.960


    1 January 1999: 2.772


    3 January 2000: 3.124 (no data for 1 January)


    1 January 2001: 3.105.

Treasure Annual Report

Lord Graham of Edmonton asked Her Majesty's Government:

    When they will publish the Treasure Annual Report 1998-99.[HL457]

Lord McIntosh of Haringey: The annual report covering the operation of the 1996 Treasure Act for the period from 24 September 1998 to 31 December 1999 was laid before Parliament earlier today.

The report is being launched tomorrow morning.



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