§ Mr. StreeterTo ask the Chancellor of the Exchequer what assessment he has made of the effect of the EU Savings Directive on UK dependent territories. [159421]
§ Dawn PrimaroloI refer the hon. Gentleman to the reply I gave to the hon. Member for Ribble Valley (Mr. Evans) on 12 December 2002Official Report, column 475W.
§ Mr. StreeterTo ask the Chancellor of the Exchequer what the status is of the EU Savings Directive; and whether he intends to implement it in the(a) UK and (b) dependent territories before ensuring that it applies equally in other states with a similar financial services industry. [159422]
§ Dawn PrimaroloThe EU Savings Directive was adopted by ECOFIN on the 3 June 2003. The proposed commencement date of 1 January 2005 in the Directive is contingent on agreements being in place with Switzerland, Andorra, Liechtenstein, Monaco, and San Marino to apply from the same date equivalent measures as in the Directive, and on arrangements being in place with the associated and dependent territories listed in Article 17 of the Directive to apply from the same date the same measures as in the Directive.