HC Deb 11 February 1993 vol 218 cc742-3W
Mr. Darling

To ask the Chancellor of the Exchequer if he will call for a report from the Governor of the Bank of England on the circumstances in which banks are requiring from new customers an agreement for their personal financial data being disclosed to third parties; and on whether such information has been discolosed without the knowledge or consent of the customer.

Mr. Nelson

[holding answer 8 February 1993]: No. Alleged breaches of the Data Protection Act 1984 are for the Data Protection Registrar, not the Governor of the Bank of England to investigate. Nor has the governor any specific responsibility for monitoring compliance with the common law duty of confidence which banks owe their customers. If proceedings are brought by customers, the courts will adjudicate on any alleged breach of duty.

Mr. Darling

To ask the Chancellor of the Exchequer what plans he has to amend the Banking Act 1987 to ensure that personal financial data relating to bank and other financial institution customers cannot be disclosed to third parties without the customer's express consent.

Mr. Nelson

[holding answer 8 February 1993]: None. Banks owe their customers a duty of confidence under the common law in respect of all personal information, and the confidentiality of computerised personal information held by banks is covered by the Data Protection Act 1984. The common law duty is set out in the code of banking practice—"Good Banking"—issued by the banks and building societies. Customers who believe that the code has been breached can take this up with the banking ombudsman. An independent code of banking practice review committee is responsible for reviewing the code. The enforcement of the 1984 Act is the responsibility of the Data Protection Registrar.

Mr. Darling

To ask the Chancellor of the Exchequer what steps he will take to ensure that the Bank of England requires banks regulated by it to take adequate precautions to prevent unauthorised disclosure of personal financial data to third parties.

Mr. Nelson

[holding answer 8 February 1993]: The Bank of England has no specific responsibility for this matter, which falls to the banks themselves, the banking ombudsman and the Data Protection Registrar. If proceedings are brought by customers, the courts will adjudicate on any alleged breach of duty.

Mr. Darling

To ask the Chancellor of the Exchequer if he will discuss with the Governor of the Bank of England and the chairman of the Securities and Investments Board means of ensuring that banks and financial institutions

Exchequer cost1, £ million
Deductions 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992
Expenditure2 1,800 2,600 3,200 3,100 2,800 2,700 2,400 3,100 3,900 3,400
of which:
—Uplift on qualifying capital expenditure 440 330 530 720 850 550 60 85 75 neg
—Relief for exploration and appraisal expenditure 110 420 430 370 300 360 500 600 750 700
—Relief for research expenditure — — — — — — — 15 20 20
—Cross field allowance for 10 per cent, of development expenditure on certain new fields — — — — 5 5 10 25 65 75
Other deductions
Oil allowance 180 340 390 170 280 230 220 230 170 280
Oil allowance for advance petroleum revenue tax 320 310 180 50 — — — — — —
Safeguard: a protection for return on capital cost 280 400 380 500 840 575 55 45 45 95
Tariff receipts allowance 5 20 40 40 80 70 70 70 60 80
Exemption for gas sold to British Gas under pre-July 1975 contracts 130 150 200 200 200 170 150 140 170 190
1 For each deduction the marginal cost is shown and therefore the costs are not additive.
2 Including operating and capital expenditure.