Sessional Returns Session 1997-98 - Contents


36. Treasury

The Committee was nominated on 16 July 1997.

It had 12 Members and held 62 meetings.



MembersMeetings attended

Mr Giles Radice (Chairman)61
Mrs Liz Blackman52
Mr Malcolm Bruce (discharged, 31.7.98) 35
Dr Vincent Cable (added, 31.7.98)8
Mr Charles Clarke (discharged, 9.11.98)46
Mr Tony Colman (discharged, 2.3.98)19
Mr Jim Cousins51
Mr Quentin Davies (discharged, 15.6.98)39
Mr Nick Gibb (added, 15.6.98) 8
Ms Ruth Kelly (discharged, 9.11.98)41
Mr David Kidney (added, 2.3.98)30
Sir Peter Lloyd51
Dr Lewis Moonie (added, 9.11.98)0
Mr Brian Sedgemore28
Sir Michael Spicer46
Jacqui Smith (added, 9.11.98)2
Taylor, Sir Teddy40

Overall attendance:   74.9 %

Number of Members added:  5

Number of Members discharged:  5

Turnover of membership during the Session:   42 %

Staff

Committee Clerk: Mrs J Sharpe (until 31.12.97); Mr S J Patrick (from 1.1.98)

Other Committee staff: Ms J Long, Assistant Clerk; Ms J Fox, Senior Executive Officer (Grade 8); Mr R Derecki, Specialist Assistant (Grade 8); Mr R Nash, Specialist Assistant (Grade 8) (until 12.10.97); Mr J Lepper, Specialist Assistant (Grade 8) (from 23.2.98); Mrs B Hunter, Secretary (Grade 12) (until 31.12.97); Miss M. Owens (Grade 12) (from 1.1.98); and Mr M Cruickshank, Senior Office Clerk (Grade 13)*.

* Also assists Committee of Public Accounts

Specialist Advisers during the Session

Mr John Arrowsmith, Professor Charles Bean, Mr Graham Bishop, Mr Roger Bootle, Mr Simon Briscoe, Professor David Heald, Mr David Miles, Professor Richard Portes, Mrs Bridget Rosewell and Mr David Walton.

Witnesses

Oral evidence was given during the Session by the following categories of witnesses:

Number of appearances by:-

Cabinet Ministers:  9

Other Ministers:  2 (of whom 1 was a Member of the House of Lords)

Number of appearances by officials from, or representatives of:-

HM Treasury:  46

other departments:  2

comprising:- Scottish Office  1

                   Welsh Office  1

non-departmental public bodies:  40

comprising:-Bank of England  35

Financial Services Authority:  5

Appearances by other witnesses:  71

Overseas Visits

  Date

  Destination

  Members

  Staff

  Purpose

  Cost

2-3.2.98

Paris

8

2

Inquiry into UK and Preparations for Stage Three of Economic and Monetary Union

£5,917.48 (estimate)

10-12.2.98

Frankfurt, Bonn and Rome

9

2

Inquiry into UK and Preparations for Stage Three of Economic and Monetary Union

£12,070.22

7-11.6.98

Washington

6

2

Inquiries into Accountability of the Bank of England, Financial Services Authority and International Monetary Fund

£32,269.32

Visits to European Institutions in Brussels and Strasbourg

  Date

  Destination

  Members

  Staff

  Purpose

  Cost

28.10.97

 Brussels

7

3

Meetings with European Commissioners

£2,744.26

14.4.98

 Brussels

1*

1

Meeting with Economic and Monetary Affairs Committee of European Parliament and representatives of National Parliaments

£689

3.11.98

 Brussels

1*

1

Meeting with European Parliament Monetary Affairs Sub-Committee and representatives of National Parliaments

£674.35

*  in a representative capacity.


UK Visits

Date

Destination

Members

Staff

Purpose

Cost

22.10.97

Bank of England, London

11

3

Briefing meeting with Governor and members of the Monetary Policy Committee

£83.27

2.12.97

Securities and Investments Board (now Financial Services Authority) London

9

4

Briefing

£89.22

28.1.98

European Commission Office, London

11

4

Briefing

Nil

29.4.98

Lloyd's of London

6

3

Briefing

£76.28

6-7.4.98

Oxford

10

5

To hold a Strategy Seminar

£1,496.62

Reports and Minutes of Evidence  

  Title

HC No.

(1997-98)

Date of

publication

No. of

pages

Sale price

  Government

  reply


First Report: Accountability of the Bank of England

282

29.10.97

102

£13.60

Received 21.1.98: published as Third Special Report, Session 1997-98

Second Report: The Barnett Formula

341

22.12.97

57

£9.70

Received 25.2.98: published as Fourth Special Report, Session 1997-98

Third Report: Confirmation Hearings

571

25.2.98

5

£2.60

Not required

Fourth Report: The 1998 Budget

647

20.4.98

134

£14.70

Received 23.6.98: published as Fifth Special Report, Session 1997-98

Fifth Report: The UK and Preparations for Stage Three of Economic and Monetary Union

503-I

28.4.98

44

£8.80

Received 29.6.98: published as Sixth Special Report, Session 1997-98

Evidence: The UK and Preparations for Stage Three of Economic and Monetary Union

503-II

28.4.98

220

£20.50

Not applicable

Appendices: The UK and Preparations for Stage Three of Economic and Monetary Union

503-III

30.4.98

172

£18.00

Not applicable

Sixth Report: The Monetary Policy Committee of the Bank of England: Confirmation Hearings

822-I

19.6.98

8

£2.25

Not required

Minutes of Evidence: The Monetary Policy Committee of the Bank of England: Confirmation Hearings

822-II

10.7.98

109

£13.60

Not applicable

Seventh Report: Bank of England: Operation of Accountability—One Year On

993

17.7.98

13

£4.30

Received 21.10.98, (HM Treasury & Bank of England): published as Seventh Special Report, Session 1997-98

Eighth Report: The New Fiscal Framework and the Comprehensive Spending Review

960-I

29.7.98

26

£6.70

Received 26.10.98 (HM Treasury & Office for National Statistics): published as Eighth Special Report, Session 1997-98

Evidence and Appendices: The New Fiscal Framework and the Comprehensive Spending Review

960-II

31.7.98

80

£11.50

Not applicable

Ninth Report: The Mis-Selling of Personal Pensions

712-I

17.11.98

22

£5.80

Awaited

Evidence and Appendices: The Mis-Selling of Personal Pensions

712-II

19.11.98

131

£17.00

Not applicable

First Special Report: Government Response to the Fourth Report 1996-97

197

4.8.97

5

£2.25

Not applicable

Second Special Report: Government Response to the Fifth Report 1996-97

198

4.8.97

6

£2.25

Not applicable

Third Special Report: Government Response to the First Report 1997-98

502*

2.2.98

15

£6.20

Not applicable

Fourth Special Report: Government Response to the Second Report 1997-98

619

12.3.98

7

£2.25

Not applicable

Fifth Special Report: Government Response to the Fourth Report 1997-98

877

1.7.98

8

£2.25

Not applicable

Sixth Special Report: Government Response to the Fifth Report 1997-98

905

3.7.98

10

£3.40

Not applicable

Seventh Special Report: Government and Bank of England Monetary Policy Committee Response to the Seventh Report 1997-98

1111

27.10.98

8

£2.25

Not applicable

Eighth Special Report: Government Response to the Eighth Report 1997-98

855

5.11.98

25

£6.20

Not applicable

Minutes of Evidence: The 1997 Budget (Budget and Monetary Issues)

169-i to ii

11.8.97

64

£10.60

Not applicable

Minutes of Evidence: The Bank of England Bill

309**

26.11.97

15

£4.75

Not applicable

Minutes of Evidence: Bank of England November Inflation Report

379-i to ii

14.1.98

48

£9.70

Not applicable

Minutes of Evidence: Pre-Budget Report

420-i to ii

16.2.98

44

£8.80

Not applicable

Minutes of Evidence: Bank of England February Inflation Report

572-i to ii

19.3.98

45

£8.80

Not applicable

Minutes of Evidence: Bank of England May Inflation Report

759-i

18.6.98

21

£5.50

Not applicable

*    Incorporating HC 309 1997-98

**    Incorporated in HC 502 1997-98

Divisions

  Date

Subject

22.10.97

Three, on consideration of amendments to Chairman's draft Report on the Accountability of the Bank of England

5.11.97

On whether the Committee should inquire into moves in the financial markets (following a letter from Mr Peter Lilley, a Member of the House)

15.12.97

Eleven, on consideration of amendments to Chairman's draft Report on the Barnett Formula

15.12.9 7

One, on the question that the Report, as amended, be the Second Report of the Committee to the House [Barnett Formula]

8.4.98

Seven, on consideration of amendments to Chairman's draft Report on the 1998 Budget

22.4.98

Twenty, on consideration of amendments to Chairman's draft Report on the UK and Preparations for Stage Three of Economic and Monetary Union

15.7.98

Three, on consideration of amendments to Chairman's draft Report on Bank of England: Operation of Accountability One Year On.

27.7.98

Seven, on consideration of amendments to Chairman's draft Report on the New Fiscal Framework and the Comprehensive Spending Review

12.11.98

Two, on consideration of amendments to Chairman's draft Report on the Mis-Selling of Personal Pensions

12.11.98

One, on the question that the Report, as amended, be the Ninth Report of the Committee to the House [The Mis-Selling of Personal Pensions]

Debates

The following Reports were referred to on the Order Paper as being relevant to debates in the House:

First Report, 1997-98, Accountability of the Bank of England: Second Reading of the Bank of England Bill, 11.11.97.

Fourth Report, 1997-98, The 1998 Budget: Second Reading of the Finance Bill, 21.4.98.

Fifth Report, 1997-98, The UK and Preparations for Stage Three of Economic and Monetary Union: Debate on Economic and Monetary Union, 30.4.98  

The following Minutes of Evidence were referred to on the Order Paper as being relevant to debates in the House:

Minutes of Evidence, 21, 22 and 23 July 1997, HC 169-i to iii, on the 1997 Budget, 28 and 29.7.97.

Minutes of Evidence, 15 July 1998, HC 960-ii, on the Economic and Fiscal Strategy Report and the Comprehensive Spending Review [final title of Report was "The New Fiscal Framework and the Comprehensive Spending Review"].

Minutes of Evidence, 6 and 14 May, 25 June and 2 July 1998, HC 712-i to iv, on the Mis-Selling of Personal Pensions, 3.11.98.

Evidence

Oral evidence was taken at 43 of the Committee's 62 meetings. On 5 of these occasions evidence was taken partly or wholly in private. The Committee received 325 memoranda, of which 50 came from Government departments, 15 from Executive Agencies and one from an associated public body. The Committee published 173 memoranda.


  Inquiry

No. of oral evidence sessions

No. of memoranda received

No. of memoranda received from Government departments/

Executive Agencies/

Associated Public Bodies

No. of memoranda published

No. of memoranda made available in the Record Office for public use and placed in the Library

The Bank of England

Accountability



  None


  38


  6/1/0


  34


  None

General

  1

  13

  3/3/0

  2

  None

Confirmation Hearings

  3

  9

  None

  9

  None

Inflation Reports

Nov 1997

Feb 1998

May 1998

Nov 1998




  2

  2

  1

  1*




  5

  7

  7

  6




  None

  None

  1/0/0

  None


  

  5

  7

  None

  None




  None

  None

  None

  None


The 1997 Budget

  3

  3

  2/0/0

  3

  None

The Barnett Formula

  1

  12

  5/0/0

  5

  3

Resource Accounting and Budgeting

  1

  11

  8/1/0

  4

  None

The Pre-Budget Report

  2

  3

  None

  1

  None

The 1998 Budget

  4

  18

  4/0/0

  15

  3

The UK and Preparations for Stage Three of Economic and Monetary Union

  9

  66

  4/4/1

  63

  2

New Fiscal Framework and the Comprehensive Spending Review

  3

  10

  3/0/0

  10

  None

Financial Services Regulation/Mis-Selling of Personal Pensions

  4

  98

  9/5/0

  15

  None

The World Economy

  6

  6

  2/1/0

  None

  None

Other

  None

  13

  3/0/0

  None

  None

Total

  43

  325

  50/15/1

  173

  8

* Second oral evidence session held in 1998-99 Session.                              


 
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Prepared 29 January 1999