Asked by: Geoffrey Clifton-Brown (Conservative - The Cotswolds)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the adequacy of trade statistics collected by the Government on identifying trade flows through second countries (a) in general and (b) where the UK exports a good or service to a first country which is then export on as a finished product.
Answered by Harriett Baldwin
UK Trade-in-Goods statistics are mainly compiled using customs documentation for non-EU movements, and via the Intrastat survey for EU movements. Goods which are transhipped through a first country (e.g. for transport reasons) en route to a second are recorded as movements to the ultimate receiving country (subject to the way in which they are declared to HMRC). Goods which are exported to a first country (e.g. for further process) will be recorded as an export to that country.
Quality checks are regularly undertaken by HMRC with regard to all types of movements. More information on the Data Quality checks that are carried out by HMRC can be found in this published document “Methodology paper for the Overseas Trade Statistics” (https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/AboutOverseastradeStatistics/Documents/OTSMethodology_paper.pdf) .
The UK Trade in Goods publication is a National Statistics product, meaning amongst other things, it is recognised for its quality.
Asked by: Geoffrey Clifton-Brown (Conservative - The Cotswolds)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, for what reason trade statistics are collected on a different basis by HM Revenue and Customs and the Office for National Statistics; and what plans the Government has to align the collection of such data.
Answered by David Gauke
HM Revenue and Customs (HMRC) is required to collect trade in goods statistics by EU legislation. This legislation sets out the detail and frequency of the data to be collected and provided to the EU Commission.
Council Regulation (EC) No 471/2009 and Commission Regulations (EU) No 92/2010 and No 113/2010 set out the requirement for HMRC to collect trade in goods statistics between the UK and non-EU countries. Council Regulation (EC) No 638/2004 and Commission Regulation (EC) No 1982/2004 sets out the requirement to collect the corresponding statistics between the UK and other EU Member States.
HMRC provides trade in goods data to the Office for National Statistics (ONS). As required by the sixth edition of the International Monetary Fund’s Balance of Payments Manual (BPM6) and the European System of Natural and Regional Accounts (ESA 2010), National Accounts and Balance of Payments also include trade in services. The ONS collects this data.
Asked by: Geoffrey Clifton-Brown (Conservative - The Cotswolds)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much has been paid in compensation to Equitable Life policyholders since the establishment of the compensation scheme; and by what date the full £1.5 billion of that scheme will be paid out.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
As of 31st October 2014 the Equitable Life Payment Scheme had paid £990m to 887,061 policyholders. A further progress report will be published shorty. As With-Profits Annuitants receive a payment for the duration of their annuity, the Scheme is expected to continue making payments for some years to come.