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Volume 405: debated on Thursday 15 May 2003

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To ask the Chancellor of the Exchequer what assessment he has made of the impact on manufacturing in (a) Wales and (b) the United Kingdom if the UK does not become part of the Eurozone. [113538]

The Government is committed to publishing a comprehensive and rigorous assessment of the five tests within two years of the start of this Parliament. A number of detailed supporting studies will be published alongside the assessment. As set out in the 6 September 2002 'Paper for the Treasury Select Committee on the Treasury's Approach to the Preliminary and Technical Work', a supporting study will be published on "The impact of EMU on business in different manufacturing and service sectors of the UK economy".

The attached table gives the estimated gross and net council tax for the over 60s as a percentage of gross income for 2000–01 and 2001–02 in each income quintile where households are ranked by equivalised disposable income. As council tax does not exist in Northern Ireland, the figures shown relate to Great Britain only. The net council tax figures are gross council tax less benefits and discounts.
The analysis does not make assumptions about the take-up of council tax benefit, but collects actual data on benefit received. Council tax benefit is available to low income households to help them meet their local tax liability. The FES and EPS collect data on the amount of council tax benefit received by households who take up their entitlement. Where a household reports taking up their council tax benefit entitlement, this has been deducted from the council tax liability to produce the net figures.