§ Mr. FraserTo ask the Chancellor of the Exchequer if he will make an estimate of the proportion of corporate assets which represent investments financed by individual investment through unit trusts life, endowment insurance and pension contributions.
§ Mr. NelsonIt is not possible to attribute particular corporate assets to particular sources of funds. However, it can be estimated that about 45 per cent. of company securities are financed by personal sector investments in unit and life assurance and pension funds.
1989–90 1990–91 1991–92 1992–93 1993–94 1994–95 Cabinet Office—OPSS "Red Book" 892 977 1,044 1,108 1,241 1,320 at 1993 prices 1,097 1,113 1,119 1,142 1,241 1,294 Real increases 1 16 6 23 99 53 Cabinet Office—other, etc. "Red Book" 274 313 363 1,123 1,233 1,200 at 1993 prices 337 357 389 1,157 1,233 1,176 Real increases 1 20 32 768 76 -57 Direct funding at 1993 prices House of Commons 96 98 105 156 163 175 House of Lords 18 19 20 33 33 41 Notes:
- (a)This information is not available prior to 1989–90 in the form requested and could be provided only at disproportionate cost.
- (b)"other spending" covers expenditure by the Privy Council Office, the Parliamentary Commissioner for Administration, the Houses of Parliament and the National Audit Office.
- (c)The increases in OPSS spending over the period reflect the priority accorded by the Government to the science programme of basic and strategic research, and includes from 1992–93 to 1994–95 the transfer of funding from the higher education funding councils to the research councils in respect of certain research projects.
- (d)Most of the increase in Cabinet Office—other, etc. relates to the setting up in 1994–95 of the security and intelligence services vote, For which comparable historic figures are available only back to 1992–93. Other increases relate principally to capital works and IT projects both in the Cabinet Office and both Houses of Parliament.