Written question asked by Steve Webb (Liberal Democrat) on Wednesday, 24 October 2001, in the House of Commons. It was due for an answer on Monday, 29 October 2001. It was answered by Maria Eagle (Labour) on Monday, 29 October 2001 on behalf of the Department for Work and Pensions.

Dept for Work and Pensions

Question: To ask the Secretary of State for Work and Pensions, if he will place in the Library a copy of the financial accounts made to him by Motability Finance Ltd. for each of the last five years; and if he will make it his policy that in future years the financing of the Motability Scheme be undertaken on a not-for-profit basis. - Inc figures and fact that copies of the financial accounts of Motability Finance Ltd have been placed in the Library. (Dep 01/1539).

Answer: Mr. Webb: To ask the Secretary of State for Work and Pensions if he will place in the Library a copy of the financial accounts made to him by Motability Finance Ltd. for each of the last five years; and if he will make it his policy that in future years the financing of the Motability scheme be undertaken on a not-for-profit basis. [10804] Maria Eagle: Copies of the financial accounts of Motability Finance Ltd. for each of the five years to 30 September 2000 have been placed in the Library. The level of the profit margin allowed to Motability Finance Ltd. is a matter for negotiation between Motability and Motability Finance Ltd. The allowed profit margin since 1 March 1999 has been 0.85 per cent. per annum.

Secondary information