HC Deb 29 November 2000 vol 357 cc706-7W
Mr. Ian Stewart

To ask the Chancellor of the Exchequer what performance target he has set for the Royal Mint for the financial year 2000–01. [141163]

Miss Melanie Johnson

I have set the Royal Mint the target of achieving a rate of return on net assets of 7 per cent. for 2000–01. This is a decrease from the target of 14.6 per cent. set for 1999–2000, owing to the operational problems the Royal Mint has recently been experiencing.

Some of the Royal Mint's other performance targets (for customer service) have been tightened, while others remain as before. The targets for 2000–01 are: 97 per cent. of accepted orders from UK banks and the Post Office for UK circulating coin to be delivered within 11 working days. 95 per cent. of UK collector coin orders from individual UK customers to be delivered within 25 days. 97 per cent. of medals orders to be delivered by the agreed delivery date; 99.7 per cent. of collector products accepted by individual UK customers.