§ Mr. GibbTo ask the Chancellor of the Exchequer what the total value was of commercial HP leasing arrangements in(a) 1995–96, (b) 1996–97 and (c) 1997–98. [61044]
§ Ms Hewitt[holding answer 27 November 1998]: The information requested falls within the responsibility of the Director of the Office for National Statistics. I have asked him to reply.
Letter from Tim Holt to Mr. Nick Gibb, dated 1 December 1998:
As Director of the Office for National Statistics (ONS), I have been asked to reply to your recent parliamentary question on commercial HP leasing arrangements.
The information sought is not available from official statistics. Information collected by government statisticians on lending by financial institutions to businesses in the UK does not distinguish between products, except to the extent that these coincide with aggregates used in national accounting or other systems. In official statistics finance leasing is separate from other forms of credit extended to business but no distinction is made between hire purchase loans and other loans and advances.
The Finance and Leasing Association, the trade association of the industry, publishes comprehensive data on business transacted by its member firms, analysed inter alia by product type (including lease/hire purchase). These data are compiled by a private organisation and are not used in official statistics. The Association is at 15–19 Kingsway London WC2B 6UN; telephone 0171 836 6511.