Motability (Hansard, 15 May 1996)

§ Mr. Simpson
To ask the Secretary of State for Social Security what percentage of the profits of Motability Finance Ltd. are reinvested into the Motability charity. [28637]

§ Mr. Burt
None. Motability Finance Ltd. is a non-profit making independent company.

§ Mr. Simpson
To ask the Secretary of State for Social Security what plans he has to increase the level of control exerted by the banks involved with Motability Finance Ltd. [28605]

§ Mr. Burt
None. Motability Finance Ltd. is an independent company which is neither funded by, nor accountable to, this Department.

§ Mr. Simpson
To ask the Secretary of State for Social Security what is the percentage profit margin of Motability Finance Ltd. [28345]

§ Mr. Burt
The amount of profit the funding banks can make from taking part in the Motability scheme is currently 1 per cent. on the average value of the funds they have invested in the scheme.
Source:
Motability's Annual Report 1994–95.