(2) how many VAT registered businesses there were in the city of Peterborough in each year since 1997; and if he will make a statement.
The number of new VAT registrations and VAT registered businesses in the Peterborough unitary authority are shown in the following table for 1997 to 2005. Data for registrations and de-registrations in 2006 will be published autumn 2007.
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Registrations 485 435 435 405 430 485 525 430 535 — Start of year stock 3,580 3,740 3,815 3,945 3,980 4,070 4,155 4,255 4,305 4,475 Source: Business Start-ups and Closures: VAT Registrations and De-registrations 1994-2005. Available at: http://stats.berr.gov.uk/ed/vat
Although the number of new registrations has fluctuated over the period, the total number of VAT registered businesses in Peterborough unitary authority has increased from 3,580 in 1997 to 4,475 at the start of 2006, an increase of 895 (25 per cent.).
VAT registration data provide the only accurate indicator of the level of start-up activity at the unitary authority level.
However, VAT registrations do not capture all business activity. Businesses are unlikely to be registered if they fall below the compulsory VAT threshold, which was £60,000 at the start of 2006. Only 1.9 million out of 4.5 million UK enterprises (41 per cent.) were registered for VAT at the start of 2006.