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Office of Fair Trading
Introduction
1. The Office of Fair Trading
supports the Director General of Fair Trading in carrying out
a wide range of statutory duties and functions in relation to
the promotion of competition and the protection of consumers,
including the Competition Act 1998. The Director General is responsible
for initiating action against restrictive agreements, monopolies
and anti competitive practices. He also advises Ministers on mergers
affecting competition and on the rules of regulatory bodies in
the financial services sector. The Director General takes action
against trading practices including `unfair contract terms' which
adversely affect consumers and negotiates codes of practice. He
administers the legislation and regulation of consumer credit
and is charged with initiating court action on misleading advertising
wherever other means of control have been inadequate.
2. Further details of the
expenditure contained in this Estimate can be found in Cm 5419.
3. Symbols are explained in
the Introduction to this booklet.
Part I
| £
|
| RfR1: Advancing and safeguarding the economic interests of UK consumers
| 50,943,000 |
| Total net resource requirement | 50,943,000
|
| Net cash requirement | 50,768,000
|
|
Amounts required in the year ending 31 March 2003
for expenditure by the Office of Fair Trading on:
RfR1: Advancing and safeguarding the
economic interests of UK consumers
administrative and operational costs, and associated
non cash items.
The Office of Fair Trading will account for
this Estimate.
|
| Net Total
| Allocated in Vote
on Account
| Balance to
Complete |
| £ |
£ | £
|
| RfR1 | 50,943,000
| 15,346,000 | 35,597,000
|
| Total net resourcerequirement | 50,943,000
| 15,346,000 | 35,597,000
|
| Net cash requirement | 50,768,000
| 14,876,000 | 35,892,000
|
Part II: Resource to Cash reconciliation
| | |
| | | £000
|
| 2002-03
provision
| 2001-02
provision
| 2000-01
outturn
|
|
| Net Total Resources |
| 50,943 | |
44,084 | | 29,898
|
| Voted Capital Items | |
| | | |
|
| Capital | 2,398
| | 2,228 |
| 3,224 |
|
| Less Non-operating AinA | —
| | — |
| — |
|
|
|
|
|
|
| |
| | 2,398
| | 2,228
| | 3,224
|
| Accruals to cash adjustment |
| | | |
| |
| Cost of capital charges | -547
| | -539 |
| -550 |
|
| Depreciation | -2,216
| | -2,225 |
| -1,747 |
|
| New provisions and adjustments to previous provision
| — | |
-2,300 | | —
| |
| Other non-cash items | -16
| | -16 |
| -856 |
|
| Increase (+)/Decrease (-) in stock
| — | |
— | | —
| |
| Increase (+)/Decrease (-) in debtors
| 31 | | 31
| | 778 |
|
| Increase (-)/Decrease (+) in creditors
| 175 | |
175 | | -9
| |
| Use of provisions | —
| | — |
| — |
|
|
|
|
|
|
| |
| Total accruals to cash adjustments |
| -2,573
| | -4,874
| | -2,384
|
| Excess cash to be CFERd |
| — |
| — |
| — |
| Net Cash Required | |
50,768 |
| 41,438 |
| 30,738 |
|
Part III: Extra Receipts payable to the Consolidated
Fund
In addition to appropriations in aid the following
income relates to the Department and is payable to the Consolidated
Fund (cash receipts being shown in italics):
| |
| £000
|
| 2002-03
| 2001-02
| 2000-01
|
| Income
| Receipts | Income
| Receipts | Income
| Receipts |
|
| Operating income not classified as AinA |
6,225 | 6,225
| 6,225 | 6,225
| 5,445 | 5,249
|
| Non-operating income not classified as AinA |
— | —
| — | —
| — | —
|
| Other amounts collectable on behalf of the Consolidated Fund
| — | —
| — | —
| — | —
|
| Excess cash receipts to be surrendered to theConsolidated Fund
| | — |
| — |
| — |
|
| Total | 6,225
| 6,225 | 6,225
| 6,225 | 5,445
| 5,249 |
|
Forecast Operating Cost Statement
| | |
| | | £000s
|
| 2002-03
Provision
| 2001-02
Provision
| 2000-01
Outturn
|
| Net administration costs: |
| | | |
| |
| Request for Resources 1 | 50,304
| | 41,145 |
| 29,007 |
|
| Net programme costs: |
| | | |
| |
| Request for Resources 1 | -5,586
| | -3,286 |
| -4,554 |
|
|
|
|
|
|
| |
| Net non-voted programme costs |
| | |
| | |
| Total net programme costs |
| -5,586 |
| -3,286 |
| -4,554 |
| NET OPERATING COST | |
44,718 |
| 37,859 |
| 24,453 |
| of which: | |
| | | |
|
| NET RESOURCE OUTTURN |
| 50,943
| | 44,084
| | 29,898
|
| CFERs | | -6,225
| | -6,225 |
| -5,445 |
| Non-voted expenditure |
| — | |
— | | —
|
| RESOURCE BUDGET OUTTURN (1) |
| 50,931 |
| 44,072 |
| 29,926 |
|
| (1) See table in notes for reconciliation between Net resource outturn, Net operating cost and Resource budget outturn.
|
Notes to the Estimate
Reconciliation of resource expenditure between Estimates,
accounts and budgets
| | |
| | | £000
|
| 2002-03
provision
| 2001-02
provision
| 2000-01
outturn
|
| Net Resource Outturn (Estimates) |
| 50,943 |
| 44,084 | |
29,898 |
Adjustments for:
Consolidated Fund Extra Receipts in the OCS
| | -6,225 |
| -6,225 |
| -5,445 |
| Net Operating Costs (Accounts) |
| 44,718 | |
37,859 | | 24,453
|
Adjustments for:
Other Consolidated Fund Extra Receipts
| | 6,225 |
| 6,225 |
| 5,445 |
| European Union income and related adjustments
| | 11 |
| 11 | | 37
|
| Voted expenditure outside the budget [please specify]
| | -23 |
| -23 |
| -9 |
| Resource Budget Outturn (Budget) |
| 50,931
| | 44,072
| | 29,926
|
of which:
Departmental Expenditure Limit (DEL)
| | 48,168 |
| 39,008 |
| 27,629 |
| Annually Managed Expenditure (AME) |
| 2,763 | |
5,064 | | 2,297
|
Reconciliation of capital expenditure between Estimates
and Budgets
| 2002-03
provision
| 2001-02
provision
| 2000-01
outturn
|
| Net Voted Capital Outturn (Estimates)
| 2,398 | 2,228
| 3,224 |
| Capital Budget Outturn | 2,398
| 2,228 | 3,224
|
| of which: | |
| |
| Departmental Expenditure Limits (DEL) | 2,398
| 2,228 | 3,224
|
|
Explanation of Accounting Officer Responsibilities
The Treasury has appointed the Director General of
OFT, John Vickers, as Accounting Officer of the Department with
responsibility for preparing the Department's Estimate.
The responsibilities of the Accounting Officer, including
responsibility for the propriety and regularity of the public
finances for which an Accounting Officer is answerable, for keeping
proper records and for safeguarding the Department's assets, are
set out in the Accounting Officer's Memorandum, issued by the
Tresury and published in Government Accounting.
Analysis of Consolidated Fund Extra Receipts
| | |
| | | £'000
|
| 2002-03
Provision
| 2001-02
Provision
| 2000-01
Outturn
|
| Income |
Receipts | Income
| Receipts | Income
| Receipts |
| Fees for administration of theConsumer Credit Act 1974 and forMergers under the Fair Trading Act1973
| 6,225 | 6,225
| 6,225 | 6,225
| 5,445 | 5,249
|
| Miscellaneous receipts | —
| — | —
| — | —
| — |
|
| Total | 6,225
| 6,225 | 6,225
| 6,225 | 5,445
| 5,249 |
|
Departmental Expenditure Limits and Administration Costs
| 2002-03 Administration Costs Limits
| £000 |
| Gross
provision
| Income | Total
administration
costs limit
|
| Gross administration costs limits |
48,985 |
| 48,985 |
| Net administration costs limits |
— | —
| — |
| | |
|
| 2002-03 Departmental Expenditure Limits
| | | £000
|
| Voted
| Non-Voted | Total
|
| Resource DEL | 48,168
| — | 48,168
|
| Capital DEL | 2,398
| — | 2,398
|
| Total DEL | 50,566
| — | 50,566
|
1. Capital DEL includes items treated as resource in Estimates and Accounts, but which are treated as part of Capital DEL, under stage 1 of Resource Accounting and Budgeting, as implemented in the 2000 Spending Review.
2. Excludes EU receipts included in Estimates, but excluded in Budgets.
|
Comparison of provision sought with final provision
and forecast outturn for previous years
RfR1: Advancing and safeguarding the economic interests
of UK consumers
The provision sought for 2002-03 of £50,943,000
is 15% higher than the final net provision and forecast outturn
for 2001-02 of £44,084,000.
Analysis of Appropriations in Aid
| | |
| | | £000
|
| 2002-03
provision
| 2001-02
provision
| 2000-01
outturn
|
| Operating
AinA
| Non-operating
AinA
| Operating
AinA
| Non-operating
AinA
| Operating
AinA
| Non-operating
AinA
|
| | |
| | | |
| RfR1: Advancing and safeguarding the economic interests of UK consumers.
|
| Receipts from European Travel | 11
| — | 11
| — | 11
| — |
| Recovered Legal Costs | 20
| — | 20
| — | 20
| — |
| Recovered Common Services provided to other departments
| 135 | —
| 135 | —
| 135 | —
|
| Competition Act Notification fees | 200
| — | 200
| — | 200
| — |
| Minor Occupiers Rental Income | 1,112
| — | 1,112
| — | —
| — |
|
| Total | 1,478*
| — | 1,478
| — | 366
| — |
|
* Amount that may be applied as appropriations in
aid in addition to the net total, arising from the recovery of
legal costs, fees for common services provided to other departments
and Competition Act fees.
Cash which may be retained to offset expenditure
| Cash which may be retained by the department to offset expenditure
| £000s |
| due to its relationship with income that has been or will be appropriated in aid
| 1,478 |
|
