HC Deb 19 October 1998 vol 317 cc926-7W
Mr. Sayeed

To ask the Chancellor of the Exchequer if an estimate has been made by the Inland Revenue as to the likely ongoing running costs of ISAs compared to those of PEPs. [55535]

Ms Hewitt

The Inland Revenue published a compliance cost assessment for the individual savings account on 31 July. A copy is available in the Library.

Mr. Sayeed

To ask the Chancellor of the Exchequer if he will make a statement on how the Inland Revenue's figure for the start-up costs of ISAs being £250 million for the savings industry was derived and provide a breakdown of the costs incurred for new computer installation, staff and sales force retraining and administration. [55534]

Ms Hewitt

The assessment reflects discussions with several potential managers, and comments received during the consultation process. Details of the breakdown of costs in the format requested are not available, since they were generally not known to this degree of precision by potential managers in the savings industry.