§ Lord Marlesfordasked Her Majesty's Government:
Whether they will give in 1995 prices the net tax paid by or repaid to underwriting members of Lloyd's during each of the 13 tax years from 1982–83 to 1994–95.
§ The Parliamentary Under-Secretary of State, Ministry of Defence (Lord Henley)The following table shows, on a constant price basis,(a) the total tax charged on initial assessments, including estimated assessments, made during each tax year on underwriting profits and gains and (b) the total of income tax and capital gains tax repaid to Lloyd's underwriters by the underwriters unit of Inland Revenue in each tax year, including any repayment supplement attracted by the tax refunded.
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The Parliamentary Under-Secretary of State, Department of National Heritage (Viscount Astor)Spending by overseas residents while visiting the UK increased by 114 per cent. between 1984 and 1994.
The latest detailed international comparisons available are those for 1980 and for 1992 published by the World Tourism Organisation last year. The position for the UK and other countries in the top 10 for international tourism receipts is shown in the following table. The UK was ranked fifth in 1980 and sixth in 1992. The UK's growth rate was lower than all other countries in the top 10 apart from Germany.
Figures like these, and the associated loss of market share, indicate the clear challenge facing tourism in Britain and why we attach such importance to the programme of action set out in Tourism: Competing with the best.
The amounts have been converted to a constant price basis using the price index of gross domestic product at market prices. The reference period used is the October to December quarter of 1994, the latest period for which the index has been estimated.
£ million Tax year Tax assessed at 1994 Q4 prices Tax repaid at 1994 Q4 prices 1982–83 170.9 43.1 1983–84 249.1 145.2 1984–85 247.9 140.6 1985–86 279.7 94.9 1986–87 302.9 238.0 1987–88 215.1 219.5 1988–89 208.0 208.5 1989–90 382.3 146.3 1990–91 265.7 106.0 1991–92 111.6 138.9 1992–93 10.9 407.6 1993–94 3.8 489.9 1994–95 8.9 376.7