To ask Her Majesty's Government what annual value the financial services industry contributes to the gross value added (GVA) measurement for (1) England, (2) Scotland, (3) Wales, and (4) Northern Ireland; and what proportion of the GVA of each country is provided by the financial services industry.

The information requested falls within the responsibility of the UK Statistics Authority. I have asked the authority to reply.

Letter from Stephen Penneck, Director General for ONS, to Lord Wigley, dated December 2011.

As Director General for the Office for National Statistics I have been asked to reply to your Parliamentary Question asking what annual value the financial services industry contributes to the gross value added (GVA) measurement for (1) England, (2) Scotland, (3) Wales, and (4) Northern Ireland; and what proportion of the GVA of each country is provided by the financial services industry (HL14322).

The table below shows total GVA (in pounds million) for the financial and insurance activities industry (section K) of the Standard Industrial Classification 2007 (SIC07). Data for the latest available year (2009) are provided for England, Scotland, Wales and Northern Ireland, along with the contribution of industry K to the GVA of each country.

Source:

Table 1.3 Headline Workplace based GVA by industry groups at current basic prices http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3A77-223201.