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UK Current Account and Reserve Asset Levels 1990-2000
Lord Shore of Stepney asked Her Majesty's Government:
- What was the United Kingdom's surplus or deficit on its current account, and on its balance of payments; what was the total value of its currency
- reserves in each year since 1990; and what is the estimated outcome for the year 2000.[HL330]
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 |
| 1997 | 6,623 |
| 1998 | -80 |
| 1999 | 9,882 |
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:
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.
Lord Shore of Stepney asked Her Majesty's Government:
Lord McIntosh of Haringey: I refer the noble Lord to Article 121 of the Treaty establishing the European Community.
Lord Shore of Stepney asked Her Majesty's Government:
Lord McIntosh of Haringey: The sterling-deutschmark exchange rate (expressed as the number of deutschmark per pound sterling) was as follows:
Lord Graham of Edmonton asked Her Majesty's Government:
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.
Year at Dec 31 £ billion
1990 22.5
1991 26.0
1992 28.3
1993 29.7
1994 30.7
1995 31.8
1996 27.3
1997 22.8
1998 23.1
1999 24.5
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]
What was the exchange rate between the pound sterling and the deutschmark on 1 January in each year since 1996.[HL383]
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.
When they will publish the Treasure Annual Report 1998-99.[HL457]
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