§ 13. Mr. Laurence RobertsonWhat he estimates will be the cost to holders of personal equity plans to transfer them to ISAs. [32505]
§ Mr. DarlingThe costs will depend on the final shape of the scheme.
§ Mr. RobertsonI thank the Chief Secretary for that illuminating reply. Other policyholders will be affected if costs are passed on to them. The uncertainty about extra charges that may be levied if people transfer from PEPs to ISAs is preventing them from investing in PEPs in the first place. That uncertainty is causing many problems: should people invest and expect a second charge for their policies, or are they expected to depend on blind trust?
§ Mr. DarlingI shall be more illuminating. If the hon. Gentleman sticks around a little longer, he might receive the answer he wants.